Hindustan Petroleum Corporation Limited

PROJECT REPORT ON HINDUSTAN PETROLEUM CORPORATION LIMITED

Submitted in Partial fulfillment of the requirements for the award of Degree Bachelor of Business Administration Batch: 2009-2012

Submitted by: Deepa Bansal

Under Guidance of: Mrs. Shveta chawla

B h a r a t i V i d y a p e e t h U ni v e r s i t y , S c h o o l of D i s t a n c e E d u c a t i on , A c a d e m i c S t u d y C e nt e r : B V I M R , N e w D e l h i An ISO 9001:2008 Certified Institute NAAC Accredited Grade A University

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STUDENT UNDERTAKING

I Deepa Bansal have completed the industrial exposure in Hindustan Petroleum corporation limited under the guidance of Mrs. Shveta Chawla in the partial fulfillment of the requirement for the award of Bachlelor of business administrationBA of BVU, SDE, Academic study centre BVIMR, New Delhi. This is an original piece of work & I have neither copied and nor submitted it earlier elsewhere.

DEEPA BANSAL

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DECLARATION
This is to certify that I have competed a project HPCL under the guidance of SHVETA CHAWLA in the partial fulfillment of the requirement for the award of Bachelors of Business Administration from Bharti Vidyapeeth University, Delhi. This is an original piece of work & I have not submitted it earlier elsewhere.

DEEPA BANSAL.

Hindustan Petroleum Corporation Limited

PREFACE
This document is an attempt of an outsider to build perspective to the insiders. Its seen so very often that an outsider sees and appreciate things which the insider cannot. Like the Chinese traveler I have made an attempt to capture the current picture of Hindustan Petroleum Corporation Limited.

This Document explain the industrial activities of HINDUSTAN PETROLEUM CORPORATION LIMITED like its strategy, team working, growth speed and working environment.

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ACKNOWLEDGEMENT

This project has been prepared after a lot of analysis regarding the process of industrial relations & marketing in the industry. It was made possible and was completed successfully due to a few people who have been instrument for its success. To whom I want to express my deep sense of gratitude. I take this opportunity to convey my deep regards and gratitude to Dr. S.S Vernakar, Director, BVIMR, New Delhi, Mr. Gagan Grover, Academic Co-ordinator, BVIMR, New Delhi, & Ms. Shveta Chawla, Faculty, BVIMR, New Delhi for his encouragement to undertake this Project. I thank my Family and Friends for their constant encouragement without which I would not have been successful. Last but not the least, I thank all those people who have directly or indirectly contributed to the completion of this project on Hindustan Petroleum Corporation Limited.

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DEEPA BANSAL

TABLE OF CONTENTS
S.NO. 1 TOPIC P A GE N O .

INTRODUCTION OF COMPANY
Introduction of HPCL Milestones of HPCL

I N D U S T R I A L A N AL Y S I S

Company profile, Organizational Structure Board of directors, Products of HPCL Recognition and awards, History of HPCL SWOT analysis, Major Competitors
Research Methodology

MARKETING STRATEGIES
Five force model Four ps of marketing mix

CORPORATE SOCIAL RESPONSIBILITY

Environment Policies Corporate social responsibility

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KE Y L E A R N I N G A N D R E C O M M E N D A T I O N
Learning Recommendation

6 . C O N C L U S I O N S A N D SU G G E ST I O N OUR OBSERVATION,CONCLUSION BIBLIOGRAPHY O

EXECUTIVE SUMMARY:
This project is an attempt to give knowledge about Hindustan Petroleum Corporation Limited. It aims to make its reader well versed with each and every aspect of HPCL.

Industrial relations is the study of the processes of control over work relations; and among these processes, those involving collective worker organization and action are of particular concern. Industrial relations play a crucial role in establishing and maintaining industrial democracy. In India, IR has passed through several stages. In pre independence days, the employers had a commanding position and exploitation of workers was predominant. Then in post independent era, interference of the government as a third party made the industrial relations to certain degree in favor of workers. Labour laws, closed economy and other legislatures strengthened the condition of the Labour, but did not enhance productivity making the industrial revolution a mere dream in India. And 7

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now post liberalization we see a change in the IR situation in India, the management across the industry realizing the need and importance of collective bargaining and participative management have started taking steps to reduce the interference of the government. This is has resulted in weakening of trade unions and productivity bargaining has become a trend resulting in the betterment of both management and workers.

We can see the influence of HRD on the plants personnel functioning, which was solely the prerogative of the top management or the corporate some years ago. Today latest trends of HRD hit at the plant level and personnel departments drive them. OD, organizational development, which is still a very new concept in India, has also started to seep in at plant level. All this has resulted in a transformation of Industrial relations, making personnel department a very strategic unit .

OBJECTIVE OF STUDY:
The objective to study this project as follows:

To study about this field of company. To study about the growth and expansion of the company. To study about its planning and strategies which they use to grow. To study about its services towards under developing areas. To compare with other companies. Partnerships and diversification

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Future business plans.

SCOPE OF THE STUDY:

The Scope of the study of this project are:

Hindustan Petroleum Corporation Limited

1.) The project will help the other companies to know more about this company. 2.) The project will help to attract the target audience.

3.) By studying this project, a transparency will generate between the company and the target customers.

WE BELIEVE
Our Mission
"HPCL, along with its joint ventures, will be a fully integrated company in the hydrocarbons sector of exploration and production, refining and marketing; focusing on enhancement of productivity, quality and profitability; caring for customers and employees; caring for environment protection and cultural heritage.

It will also attain scale dimensions by diversifying into other energy related fields and by taking up transnational operations." 10

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Our Vision
To be a World Class Energy Company known for caring and delighting the customers with high quality products and innovative services across domestic and international markets with aggressive growth and delivering superior financial performance. The Company will be a model of excellence in meeting social commitment, environment, health and safety norms and in employee welfare and relations

CHAPTER-1 INDUSTRY PROFILE

INTRODUCTION
HPCL is a Fortune 500 company, with an annual turnover of Rs. 1,08,599 Crores and sales/income from operations of Rs 1,14,889 Crores (US$ 25,306 Millions) during FY 2009-10, having about 20% Marketing share in India and a strong market infrastructure. 11

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HPCL operates 2 major refineries producing a wide variety of petroleum fuels & specialties, one in Mumbai (West Coast) of 6 . 5 Million Metric Tonnes Per Annum ( M M T P A ) capacity and the other in Vishakapatnam, (East Coast) with a capacity of 8.3 MMTPA. HPCL holds an equity stake of 16.95% in Mangalore Refinery & Petrochemicals Limited, a state-of-the-art refinery at Mangalore with a capacity of 9 MMTPA. In addition, HPCL is constructing a refinery at Bhatinda, in the state of Punjab, as a J o i n t venture with Mittal Energy Investments Pte. Ltd. HPCL also owns and operates the largest Lube Refinery in the country producing Lube Base Oils of international standards, with a capacity of 335 TMT. This Lube Refinery accounts for over 40% of the India's total Lube Base Oil production. HPCL was formed The in 1974 on of nationalization Caltex were of ESSO in the India 1976. second operations. Hindustan operations merged

Petroleum

Corporation

Limited

today is

largest integrated oil refining and marketing company in India and also a fortune 500 company with a turnover of Rs.646.89 billion (US$ 14,709 Millions). The Corporation has already been identified by the Government of India as a company which has the potential to become a global giant. The company employs about 11,088 people and has a market value of US $2.73 billion as of 2005. It faces stiff competition from Bharat Petroleum and Indian Oil Corporation. It is a mega Public Sector Undertaking (PSU) with Navratna status.

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HPCL FY10 profit up 126%

Hindustan Petroleum Corporation Limited reported sales of petroleum products (including exports) during the year 2009-10 at an all time high of 26.3 million tones, registering an increase of 3.5% over the previous year. The pipeline thruput increased to 11.95 million tonnes as compared to 10.58 million tonnes in the previous year, a growth of nearly 13%. Turnover for the year amounted to Rs. 1,08,599 crores. The refineries at Mumbai and Visakh processed 15.76 million tonnes of crude with the combined GRM recorded at US $ 2.68 /bbl. On the financial front, the Profit after Tax (PAT) increased by 126% from Rs.575 crores in the previous year to Rs 1,301 crores during the current year. The higher PAT was achieved after absorbing an under-recovery of Rs 1,225 crores on sales of sensitive petroleum products during the year. There was a sharp reduction in the interest cost to Rs 904 crores, lower by Rs 1179 crores from the earlier year. The depreciation charge was Rs 1,164 crores vis--vis Rs 981 crores of the earlier year mainly due to commissioning of the Euro IV fuel projects at Mumbai and Visakh refineries. For the year 2009-10, HPCL has proposed a dividend of Rs 12.00 per share, which is higher than that of last year at Rs 5.25 per share. The dividend would result in a total payout of Rs 473 crores including dividend distribution tax.

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MILESTONES OF HPCL
The year 2009-10 witnessed many milestones in HPCL and its joint ventures :

The facilities for Euro III / Euro IV petrol production at Mumbai Refinery and at Visakh Refinery have been commissioned during this year. The 9 MMTPA JV Refinery at Bathinda, being constructed by HPCL Mittal Energy Ltd. (HMEL) has achieved over 80% overall progress, about 2% ahead of schedule. Mechanical completion is expected by March, 2011.

A Rs 600 crores, 250 Kms product pipeline from Bathinda Refinery to Delhi, being constructed by HPCL, is nearing completion. At Mumbai, the Lube Refinery is being upgraded to produce Group II & III Base Oils at a cost of Rs 1,000 crores. The project is under commissioning. Single Point Mooring (SPM) system at Vishakapatnam has been mechanically completed at a cost of Rs 550 crores. This will enable receipt of crude in Very Large Crude Carriers (VLCCs) of 250,000 MT as against current cargo size of 130,000 MT.

Construction of five major oil installations has been initiated at Ennore, Visakh, Bokaro, Bihta and Tikri Kalan. Additionally, new LPG plants are also coming up at Visakh, Hazira and Bathinda. HPCL would be investing over Rs 2,500 crores in these projects which would be completed progressively during the year 2010-11.

A new wholly owned subsidiary, HPCL Biofuels Limited, was incorporated in October, 2009 to produce ethanol (for blending with petrol) in East and West Champaran districts in Bihar. These projects are expected to be commissioned by December, 2010 and will benefit large number of farmers besides providing 12 MW electricity in each of the districts. The total cost of the two projects is over Rs 700 crores.

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MAJOR EVENTS OF HPCL:

14 Sep 2010 Hindustan Bhawan honoured with Energy Saving rating 12 Feb 2009 QC Lab at Mazgaon Lube Plant receives NABL Accredation 03 Feb 2009 Mundra - Delhi Pipeline (MDPL) dedicated to the Nation 20 Jan 2009 Shri M K Bagai bestowed with Lifetime Achievement Award 22 Oct 2008 HP Aviation Commissions 18th ASF at Mundra 15 Oct 2008 New Company, Creda-HPCL Biofuel Limited Incorporated. 11 Sep 2008 HPCL & Renuka Sugars in Joint Venture for Ethanol Production 12 Aug 2008 e-fuel Campaign Launched in Mumbai 10 Aug 2008 HP Aviation Commissions 17th ASF at Tirupathi 05 Aug 2008 Rajahmundry LPG Plant Commissioned. 01 Aug 2008 HPCL opens new Depot at Mughalsarai

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CHAPTER-2 INDUSTRIAL ANALYSIS

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COMPANY PROFILE
HI N D U S T A N P E T R O L E U M C O R P . L T D .
Type: Founded: Headquarters: Industry: Products: Employees: Website: Public (NSE, BSE) 1976 Mumbai Petroleum Oil, Lubricants 11,088 http://hindustanpetroleum.com

Hindustan Petroleum Corporation Limited (HPCL) (BSE: 500104, NSE: HINDPETRO), a state-owned oil company of the Government of India located at Mumbai, India and is a Fortune 500 company of India listed at number 311 [3] in the global 500 rankings, with an annual turnover of over 1,16,428 Crores and sales/income from operations of Rs 1,31,802 Crores (US$ 25,618 Millions) during financial year 2008-09, about 20% Marketing share in India and a strong market infrastructure. Corresponding figures for financial year 2007-08 are: Turnover- Rs 1,03,837 crores, and sales/income from Operations- 1,12,098 Crores (US$ 25,142 Million).

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HPCL operates 2 major refineries[4] producing a wide variety of petroleum fuels & specialties, one in Mumbai (West Coast) of 6.5 Million Metric Tonnes Per Annum (MMTPA) capacity and the other in Vishakapatnam, (East Coast) .

ORGANIZATIONAL STRUCTURE OF HPCL :

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BOARD OF DIRECTORS

Corporate Logo

S Roy Choudhury, Chairman & Managing Director

S Roy Choudhury, DirectorMarketing (Addl. Charge)

V Viziasaradhi, Director Human Resources

B Mukherjee, DirectorFinance

K Murali, DirectorRefineries

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PRODUCTS OF HPCL :

1. Petrol Known as Motor Spirit (MS) in Oil Industry. HPCL markets the product through its retail pumps spread all over India. Its principle consumers are regular personal vehicle owners.

2. Diesel Known as High Speed Diesel (HSD) in Oil Industry. HPCL markets the products through its retail pumps as well as terminals and depots. Its consumers are not only regular auto owners but also transport agencies, industries etc.

3. Lubricants

[8]

HPCL is the market leader in lubricant and

associated products. It commands over 30% of market share in this sector. The popular brands of HP lubes are Laal Ghoda, Milcy, Thanda Raja, Koolgard etc.

4. LPG

[9]

A popular brand in mainly urban areas.

5. Aviation

Turbine

Fuel

[10]

With

major

ASF(Air

Service

Facility) present in all major airports of India, HPCL is a key player in this sector supplying ATF to major airlines. It has an accomplishment of sorts to supply fuel to US Air Force 1. 21

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RECOGNITION AND AWARDS

HPCL has won several awards in the year 2009-10. A of the achievements in 2009-10 follows. Awards / Recognitions 2009 brief account

HPCL Wins CIO 100 Award for the fourth Time in a Row

Indira Gandhi Rajbhasha Puraskar

Enterprise Connect Award 2009

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SAIL HR Excellence Award

HISTORY OF HPCL :

1952: The Company was incorporated in the name of Standard Vacuum Refining Company of India Limited on July 5, 1952 1962: On 31st March,1962 the name was changed to ESSO Standard Refining Company of India Limited. 1974: Hindustan Petroleum Corporation Limited comes into being after the takeover and merger of erstwhile Esso Standard and Lube India Limited 1976: Caltex Oil Refining (India) Ltd. - CORIL is taken over by the Government of India with an Ordinance in 1976, subsequently ratified by an Act

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in 1977 and merged with HPCL in 1978. 1979: Kosan Gas Company, the concessionaries of HPCL in the domestic LPG market, are taken over and merged with HPCL. HPCL thus comes into being after merging four different organisations at different points of time.

SWOT ANALYSIS

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HINDUSTAN PETROLEUM SWOT ANALYSIS REPORTS:

Browse all Hindustan Petroleum SWOT Analysis reports which include an internal and external strategic assessment of Hindustan Petroleum's strengths, weaknesses, opportunities and threats. These comprehensive Hindustan Petroleum SWOT Analysis reports provide you an in-depth strategic analysis of the company's business and operations. Each report takes positive or negative findings from any internal analysis (i.e. strengths or weaknesses respectively) and positive or negative findings from the external analysis (i.e.

opportunities or threats respectively) of Hindustan Petroleum. The reports typically include the following SWOT analysis: Analysis business (strengths, major

description, weakness,

corporate opportunities

strategy, and

threats),

company

history,

products and services, key competitors, senior employees, important locations and subsidiaries, manufacturing facilities and financial performance. Please view the table of contents to understand the specific contents for each report.

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COMPETITORS OF HPCL:
Last Price Market Cap.
(Rs. cr.)

Sales Turnover

Net Profit

Total Assets

Reliance IOC BPCL Essar Oil HPCL MRPL Chennai Petrol

1,032.50 339.30 613.55 126.80 358.45 64.35 221.30

337,937.25 82,380.43 22,182.42 17,316.66 12,138.09 11,277.97 3,295.41

192,461.00 269,136.03 135,331.48 37,652.00 124,752.42 32,287.94 24,927.26

16,236.00 10,220.55 735.90 -514.00 574.98 1,112.38 603.22

199,665.30 95,119.08 35,281.91 15,027.38 32,860.34 7,292.96 7,539.97

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R eliance IOC BPC L Es s ar Oil H PC L MR PL C hennai Petro

PIE CHART FOR NET PROFIT OF VARIOUS COMPANIES

RESEARCH METHODOLOGY
DESIGN
The research undertaken is Secondary. It required a summary or collection of existing data. Secondary data means data that are already available i.e., they refer to the data which have already been collected and analysed by someone else. Secondary data may either be published data or unpublished data. Secondary data sources are in the form of Written Documents: like books, previous research reports, newspaper, magazine and

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journal content, websites as well as government and NGO statistics. This research helped in getting the answers to some core issues thus exploring the topic broadly. Due to time limitations and also accessibility to a defined sample size, the nature of this exercise was more of an exploratory nature and therefore depended on survey of existing information and literature connected to training methodology and also interaction with experienced individuals. Research design in case of exploratory research studies: Exploratory research studies are also termed as formulative research studies. The main purpose of such studies is that of formulating a problem for more precise investigation or of developing the working hypothesis from an operational point of view. The major emphasis in such studies is on the discovery of ideas and insights. In such studies:

Non-probability sampling designs are used Data requirements are vague The objective is general rather than specific No definite recommendations are made as a result of the analysis

The exploratory research is carried out by using survey of existing literature, survey of experienced individuals and analysis of case-studies. Generally, the following three methods in the context of research design for such studies are talked about : The survey of concerning literature The experience survey & The analysis of insight-stimulating examples. 1. The survey of concerning literature- This happens to be the most simple and fruitful method of formulating precisely the research problem or developing hypothesis. 29

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Hypothesis stated by earlier workers may be reviewed and their usefulness be evaluated as a basis for further research. Sometimes the works of creative writers also provide a fertile ground for hypothesis formulation. 2. Experience survey - It means the survey of people who have had practical experience with the problem to be studied. The object of such survey is to obtain insight into the relationships between variables and new ideas relating to the research problem. For such a survey, people who are competent and can contribute new ideas may be carefully selected as respondents to ensure a representation of different types of experience. This survey may as well provide information about the practical possibilities for doing different types of research. 3. Analysis of insight-stimulating examples This is also a fruitful method for suggesting hypotheses for research. It is particularly suitable in areas where there is little experience to serve as a guide. This method consists of the intensive study of selected instances of the phenomenon in which one is interested. For this purpose the existing records, if any, may be examined, the unstructured interviewing may take place, or some other approach may be adopted. Thus, in an exploratory or formulative research study which merely leads to insights or hypothesis, whatever method or research design outlined above is adopted, the only thing essential is that it must continue to remain flexible so that many differentfacets of a problem may be considered as and when they arise and come to the notice of the researcher.

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CHAPTER-3 MARKETING STRATEGIES

F i v e f or c e m o d e l of H P C L :

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MARKETING MIX
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Ps of Marketing The Marketing Mix strategies

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The term marketing mix was coined in the early 1950s by Neil Borden in his American Marketing Association presidential address. This is one of the preliminary knowledge every marketer must have and is considered to be the basics of every marketing theory, which emerged henceforth. The basic major marketing be classified in one of the management decisions following four can categories,

namely Product, Price, Place (distribution) and Promotion.

F O UR P ' S
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E l e m e n t s o f t h e m a r k e t i n g m i x ar e o f t e n r ef e r r e d t o a s t h e "Four P's":

Product - It is a tangible object or an intangible service that is mass produced or manufactured on a large scale with a specific volume of units. Intangible products are service based like the tourism industry & the hotel industry or codes-based products like cellphone load and credits. Typical examples of a mass produced tangible object are the motor car and the disposable razor

Price The price is the amount a customer pays for the product. The business may increase or decrease the price of product if other stores have the same product.

Place Place represents the location where a product can be purchased. It is often referred to as the distribution channel. It can include any physical store as well as virtual stores on the Internet.

P r o m o t i o n represents all of the communications that a marketer may use in the marketplace. Promotion has four distinct elements: a d v e r t i s i n g , p u b l i c r e l a t i o n s , p e r s o n a l s e l l i n g and s a l e s p r o m o t i o n .

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PERFORMANCE MANAGEMENT
In our endeavor to effectively analyze the performance of our training and mentoring programs, we have developed robust and objective performance management processes which strive to effectively tread through our employees hopes and aspirations. It is all about endorsing an empowering environment which takes you to your best. And we'll make sure you get valuable feedback, coaching, and knowledge from the people you work with. Career progression at HPCL is ensured through objective appraisal of performance. Our performance appraisal process is based on Balanced Scorecard Approach and is more than just assessment. It enables the employees to identify and develop their strengths and weaknesses and align them towards organizational objectives through counseling, mentoring and additional inputs through specific training programmes.

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CHAPTER-4 CORPORATE SOCIAL RESPONSIBILITY

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ENVIRONMENT
Mission & SHE Policy Mission
To have safe, healthy and pollution free environment in and around all our refineries, plants, facilities and other premises at all times; instill awareness in these areas, including relevant laws, in all employees, their families and the communities in which we carry out our activities.

Environment Policy
The Corporation is committed to conduct its operation in such a manner as compatible with environment and economic development of the community.

Health Policy
To provide a structured program to look after and promote the health of vital Human Resource, essential for productivity and

effectiveness of the Corporation.

Safety Policy
As an integral part of its business, HPCL believes that no work or service or activity is so important or urgent that safety be overlooked or compromised.

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CORPORATE SOCIAL RESPONSIBILITY

Promising whatever it takes to make a difference:
HPCL has surely paved the way in the right direction with

exemplary contributions. HPCL's initiatives have created value in the following diverse ways

HPCL's initiatives have made notable differences in fields as diverse as education, infrastructure, welfare measures, health and hygiene, vocational training & employment generation, training in self-reliance, amenities for the sufferers of natural disasters and environmental protection.

1. The funds for different CSR projects have been consistently allocated in a transparent manner. HPCL follows an allocation process based on complete evaluation and benchmark

standardization.

2. A Foundation has been established to take up projects of National significance. This initiative has helped to identify the impacts of projects keeping national interest in mind. 3. HPCL has set exemplary organizational competency in

carrying out complex and demanding projects.

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S O M E P L A N S U N DE R C S R : -

Swablamban :- Imparted vocational training in various trades to

550 youth through Confederation of Indian Industry (CII).

Navjyot :- Provided regular health check-up and health care

services to 3100 slum children from the resettlement colonies in Bawana Dist. in the state of Haryana, through Navjyothi Delhi Police Foundation.

Nanhi Kali :- Sponsored 500 girl students from the various

Govt. Schools in the Mehboobnagar and Paderu Districts in Andhra Pradesh. Under this sponsorship, Corporation provides books, Notebooks, Uniforms including Footware and

applicable fees.

Muskan:-

Transforming

the

lives

of

100

street/orphan

children. These children are housed in a NGO shelter home at Tughlakabad and Jahangirpuri at Delhi.

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CHAPTER-5 KEY LEARNING AND RECOMMENDATION

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LEARNINGS

I have learned lot of things through this industrial report. It is a great experience of making industrial report on this Company. HPCL company operating in India based in Mumbai.

Following are the learning about the company from this industrial project:

History of the HPCL. Vision and mission of the HPCL. Board of the directors of the HPCL. Products of the HPCL. Competitors of the company. Promotional Strategies of Company.

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RECOMMENDATION

Improve the performance of Employees in their respective assignments.

Enhance competencies to take up higher responsibilities. Strengthen the Leadership Pipeline. Bring cultural change from Command & Control to Team based structure.

Leverage technology in human resources development. Facilitate learning in the organization and build a "Learning Organization".

Build sufficient flexibility into the employment cycle and emphasize different rewards and cultural elements to motivate them emotionally and intellectually.

Put mechanisms in place to ensure that all employees can see and understand senior managements concern for them collectively and its vision for the future of the organization. Essentially, this comes down to two-way communication. Keeping employees informed is a prerequisite.

Challenging work Associate should find his / her job challenging. It can be developed by the employer by encouraging associates to take initiative, being open to change, tolerating uncertainty, coaching and developing peoples skills, and holding people accountable for their performance. 44

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CHAPTER-6 CONCLUSION AND SUGGESTIONS

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OUR OBSERVATION : HPCLs distribution strength in retail market can be well utilized in the coming years by expected growth in transport sector. HPCL has started the process of investing in upgrading

configurations of its refineries to be able to produce petrol and diesel that meet global environment standards. LPG is emerging as an alternative auto fuel in some regions of the country. HPCL stands to gain from this development. Growth in power sector will also support demand for grades of diesel. HPCL makes sure that the inventories are properly transported to its destined warehouses or the retail outlets. It maintains a proper quality and quantity control to avoid cases of pilferage and other unforeseen circumstances. They contribute towards the society by spreading social

messages through their promotional activities. The company plans well in advance for the future inventory

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CONCLUSION:
According to the literature research, skill variety, task identity, task significance, autonomy, feedback, environment, job security, and compensation are the most critical factors for the motivation of employees and their satisfaction with the job. These factors represented the basis for the empirical research.

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SUGGESTIONS:
(1) The strongest motivator regarding all subgroups is the feedback. Therefore, special attention should be given to that factor in order to increase the internal motivation and job satisfaction. (2) One should have in mind that the environment and compensation do not actually present motivators. However, their fulfillment to a certain extent provides the basis for taking advantage of challenges in the job and to reduce job dissatisfaction. (3) In addition, special attention should be given to the skill aspect and the compensation, since they make a contribution to the well being of humans and provide the basis for the use of challenges offered by the job. (4) Furthermore, all factors examined in this study contribute to the organizational commitment of employees. The intrinsic factors, on the one hand, may influence a person's willingness to expend considerable efforts toward the goals of the company and to remain in the company (attitudinal commitment). The extrinsic factors, on the other hand, may contribute to the behavioral commitment.

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BIBLIOGRAPHY:

Secondary Research:

WEBSITES:
www.hindustanpetroleum.com www.google.com www.altavista.com www.moneycontrol.com www.agencyfaqs.com

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