Abstract

The ultimate purpose of CRM, like any organizational initiative, is to increase profit. In the
case of CRM this
is achieved mainly by providing a better service to your customers than your competitors.
CRM not only
improves the service to customers though; a good CRM capability will also reduce costs,
wastage, and
complaints Effective CRM also reduces staff stress, because attrition - a major cause of
stress - reduces
as services and relationships improve. CRM enables instant market research as well:
opening the lines of
communications with customers gives direct constant market reaction to the products,
services and
performance, far better than any market survey. Good CRM also helps to grow business:
customers stay
longer; customer churn rates reduce; referrals to new customers increase from increasing
numbers of
satisfied customers; demand reduces on fire-fighting and trouble-shooting staff, and overall
the
organizations service flows and teams work more efficiently and more happily, as cited the
case of this study.

Need of the study

In todays intensely competitive, rapidly changing & highly complex business environment
characterized by diminishing customer loyalty, the need to be market focused & customer centric is
more critical than any other time in past. Firms use technology as a key tool to enhance the
information flow within their business units, helping their employees better understand the ever
changing and increasing need and wants of their customers. It is certain that the internet will continue
to change the ways customers and organizations interact with one another in terms of speed and
ease. This fact requires that the integration of internet technology into CRM activities occur at all levels
throughout the organization. Thus, it would be wrong to say that keeping its customer satisfied is in the
best interests of the organizations. The purpose of this study is to bring insight and deeper
understanding into the objectives, strategies and the expected benefits of CRM initiatives by the
organization. Key to stability in todays dynamic marketplace is in forging long-term
relationships with customers. Technology is changing at such a fast pace today that by
just offering a service or a product a business wont be at an advantage for too long. A
customer-facing business is one in which the customer can demand and receive what he
wants.
The Customer is not new, Relations are as old as a buyer and a seller and so is
Management. Keeping in mind the pace at which technology is changing today, any
company which is a step ahead of others because of some web product or service will not
be able to hold on to that advantage for long. The key to stability in todays dynamic
marketplace is forging long-term relationships with the customers.

Limitations

Sample size -- the number of the sample size is too small, it will be difficult to find significant
relationships from the data, as statistical tests normally require a larger sample size to ensure a
representative distribution of the population and to be considered representative of groups of people to
whom results will be generalized or transferred. Note that sample size is less relevant in qualitative
research.

Lack of available and/or reliable data -- a lack of data or of reliable data will likely require to limit the
scope of analysis, the size of sample, or it can be a significant obstacle in finding a trend and a
meaningful relationship.

Lack of prior research studies on the topic -- citing prior research studies forms the basis of
literature review and helps lay a foundation for understanding the research problem that are
investigating.

Measure used to collect the data -- sometimes it is the case that, after completing your interpretation of
the findings, you discover that the way in which you gathered data inhibited your ability to conduct a
thorough analysis of the results. Self-reported data -- whether you are relying on pre-existing data or you
are conducting a qualitative research study and gathering the data yourself, self-reported data is limited by
the fact that it rarely can be independently verified. In other words, you have to take what people say,
whether in interviews, focus groups, or on questionnaires, at face value. However, self-reported data can
contain several potential sources of bias that you should be alert to and note as limitations. These biases
become apparent if they are incongruent with data from other sources. These are: (1) selective
memory [remembering or not remembering experiences or events that occurred at some point in the
past]; (2) telescoping [recalling events that occurred at one time as if they occurred at another time];
(3) attribution [the act of attributing positive events and outcomes to one's own agency but attributing
negative events and outcomes to external forces]; and, (4) exaggeration [the act of representing
outcomes or embellishing events as more significant than is actually suggested from other data.]

Aims and Objectives

1.

To promote the business interests of the private sector;

2.

To further the economic development in Lae and to ensure the provision of services
and utilities essential to such development;

3.

To provide a representative body for business people with which government can
consult;

4.

To promote, support or oppose legislation or other measures affecting the business

community;

5.

To provide a forum for discussion of private sector goals;

To pool the strengths of business people so that together, they can accomplish tasks

6.

that cannot be achieved by each one alone;

To promote the economic viability of the area, so those current businesses will grow

7.

and new ones will be developed locally;

To provide the business sector with a common voice.

8.

9.
10.
11.
12.

To study the current practices of this project.

To find out the impact on the profitability of the organization regarding this project
To study the factors affecting this project.
To study the role of information technology involved in this project.

Advantages:

A context was established

which provided us with an authentic to topic to talk about and as a starting
point to organize our project.

Increased motivation was evident because

supervisors became personally involved in the project.

Authentic tasks were proposed and

therefore the language input was more authentic.

A Brief Literature Review: Customer Relationship

Management
Posted on June 20, 2013 by John Dudovskiy

Customer relationship management has been defined as a business approach that integrates people, processes, and
technology to maximize relationships with customers Goldenberg (2008, p.3). Moreover, it has been stated that
customer relationship management characterizes a management philosophy that is a complete orientation of the
company toward existing and potential customer relationships (Raab et al, 2008, p.6)
Mueller (2010) characterizes customer relationship management aspect of the business as a highly dynamic, and
convincingly argues that businesses have to adopt a proactive approach in devising relevant programs and
initiatives in order to remain competitive in their industries.
Sinkovics and Ghauri (2009) relate the necessity for engaging in customer relationship management
to high cost of direct sales, highly intensifying level of competition in the global level, and need for
information about various aspects of the business in general, and consumer behavior in particular,
that can be used to increase the levels of sales.

According to Peppers and Rogers (2011), there is global tendency in customer relationship management that relates
to the shift from transactional model towards the relationship model. In other words, Peppers and Rogers (2011)
argue that satisfying customer needs as a result of on-time transaction is not sufficient today in order to ensure the
long-term growth of the businesses.
Instead, businesses have to strive to maintain long-term relationships with their customers in order to maintain
flexibility to adopt their increasing expectations and thus achieving their life-long loyalty. Peppers and Rogers
(2011) further stress that, businesses that refuses to acknowledge this tendency in the global marketplace would be
risking their market share and growth prospects in the future.
One of the most critical sources for the research is the book Relationship Marketing and Customer Relationship
Management authored by Brink and Berndt (2009). The book offers an in-depth discussion of the concept of
Customer Touch Map and discusses the role of information technology in facilitating customer relationship
management.
The work of Mathur (2010) represents another significant contribution to the research area to be used in the study.
Namely, the author provides a wide range of specific customer relationship management techniques and principles
that are used by multinational businesses. The findings of Mathur (2010) can be compared to the primary data
findings in the proposed research, thus enhancing the scope of the study.
Khurana (2010), on the other hand, discusses the concept of customer relationship management in a great detail,
and also addresses advantages and disadvantages associated with a range of relevant software applications. The
third edition of Pradans (2009) Retailing Management is another noteworthy source that is going to be used in
the study. Specifically, Pradan (2009) identifies customer relationship management as an emerging aspect of
marketing in retail and discusses its importance for ensuring long-term growth for retail businesses.
A global approach towards the issues of customer relationship management is adopted by Raab et al (2008) in
Customer relationship management: a global perspective. The value of this specific work to the proposed
research can be explained in a way that it will allow the comparison of customer relationship management
principles to the similar principles exercised by other multinational retailers in a global marketplace.
Bhatias (2008) work, Retail Management is also going to be used in the proposed study due to the significance
of the contribution of the work to the research area. Bhatia (2008) offers in-depth discussions related to the use of
loyalty cards by retailers, and this represents a comprehensive analysis of the issue in the secondary data.
Moreover, Coxs (2011) Retail Analytics: The Secret Weapon deserves also to be mentioned in here thanks to the
most modern and fresh perspective the author adopts in order to approach the research issues. The most valuable
part of this specific article is that it provides highly practical recommendations to retailers of various sizes in terms
of increasing the levels of revenues through adopting a range of customer relationship management principles.

A range of academic models and writings relate to this research in direct and indirect ways and some of the most
relevant models are going to be explored in the study. One of the most models to be used in the study is The Gap
Model of Service Quality. A model of service quality called the gap model identifies five gaps that can cause
problems in service delivery and influence customer evaluations of service quality (Lamb et al, 2011, p.189).
These five gaps are a) the gap between customer wants and the management perceptions about customer wants; b)
the gap between the management perceptions about customer wants and the specifications of service developed; c)
the gap between the service specifications and the actual service provided; d) the gap between the quality of service
promised and the quality of service provided, and e) the gap between expected service and perceived service on
behalf of customer.
Another relevant model to be tested during the study constitutes Relationship Model of customer relationship
management proposed by Peppers and Rogers (2011). Specifically, the model advocates adopting a pro-active
approach in sustaining customer relationships and proposes a set of specific principles that would assist to
accomplish this task.

"Customer Relationship Management"

Introduction:The biggest management challenge in the new millennium of liberalization and globalization for a
business is to serve and maintain good relationship with the king
The customer.
In the past producers took their customers for granted, because at that time the customers were not
demanding nor had alternative source of supply or suppliers. But today there is a radical
transformation. The changing business environment is characterized by economic liberalization,
increasing competition, high consumer choice, demanding customer, more emphasis on quality and
value of purchase etc. All these changes have made todays producer shift from traditional marketing
to modern marketing. Modern marketing calls for more than developing a product, pricing it, promoting
it and making it accessible to target customer. It demands building trust, a binding force and value
added relationship with the customers. The process of developing a cooperative and collaborative
relationship between the buyer and seller is called customer relationship management shortly called
CRM.

History of CRM
Customer Relationship Management (CRM) is one of those magnificent concepts
that swept the business world in the 1990s with the promise of forever changing the way
businesses small and large interacted with their customer bases. In the short term,
however, it proved to be an unwieldy process that was better in theory than in practice for
a variety of reasons. First among these was that it was simply so difficult and expensive to
track and keep the high volume of records needed accurately and constantly update them.
In the last several years, however, newer software systems and advanced tracking features
have vastly improved CRM capabilities and the real promise of CRM is becoming a reality.

As the price of newer, more customizable Internet solutions have hit the marketplace;
competition has driven the prices down so that even relatively small businesses are
reaping the benefits of some custom CRM programs.

In the beginning

The 1980s saw the emergence of database marketing, which was simply a catch
phrase to define the practice of setting up customer service groups to speak individually to
all of a companys customers. In the case of larger, key clients it was a valuable tool for
keeping the lines of communication open and tailoring service to the clients needs. In the
case of smaller clients, however, it tended to provide repetitive, survey-like information
that cluttered databases and didnt provide much insight. As companies began tracking
database information, they realized that the bare bones were all that was needed in most
cases: what they buy regularly, what they spend, what they do.

Advances in the 1990s

In the 1990s companies began to improve on Customer Relationship Management

by making it more of a two-way street. Instead of simply gathering data for their own use,
they began giving back to their customers not only in terms of the obvious goal of
improved customer service, but in incentives, gifts and other perks for customer loyalty.
This was the beginning of the now familiar frequent flyer programs, bonus points on
credit cards and a host of other resources that are based on CRM tracking 3333 customer
activity and spending patterns. CRM was now being used as a way to increase sales
passively as well as through active improvement of customer service.

True CRM comes of age

Real Customer Relationship Management as its thought of today really began in

earnest in the early years of this century. As software companies began releasing newer,
more advanced solutions that were customizable across industries, it became feasible to
really use the information in a dynamic way. Instead of feeding information into a static
database for future reference, CRM became a way to continuously update understanding

of customer needs and behavior. Branching of information, sub-folders, and custom

tailored features enabled companies to break down information into smaller subsets so
that they could evaluate not only concrete statistics, but information on the motivation
and reactions of customers. The Internet provided a huge boon to the development of
these huge databases by enabling offsite information storage, where before companies had
difficulty supporting the enormous amounts of information. The Internet provided new
possibilities and CRM took off as providers began moving toward Internet solutions. With
the increased fluidity of these programs came a less rigid relationship between sales,
customer service and marketing. CRM enabled the development of new strategies for
more cooperative work between these different divisions through shared information and
understanding, leading to increased customer satisfaction from order to end product.

Today, CRM is still utilized most frequently by companies that rely heavily on two
distinct features: customer service or technology. The three sectors of business that rely
most heavily on CRM -- and use it to great advantage -- are financial services, a variety of
high tech corporations and the telecommunications industry. The financial services
industry in particular tracks the level of client satisfaction and what customers are looking
for in terms of changes and personalized features. They also track changes in investment
habits and spending patterns as the economy shifts. Software specific to the industry can
give financial service providers truly impressive feedback in these areas.

In recent years however, several factors have contributed to the rapid development
and evolution of CRM. These include: -

1. The growing de-intermediation process in many industries due to the advent of

sophisticated computer and telecommunication technologies that allow producers to
directly interact with end-customers. For example, in many industries such as airlines,
banks insurance, software or household appliances and even consumables, the deintermediation process is fast changing the nature of marketing and consequently making
relationship marketing more popular. Databases and direct marketing tools give them the
means to individualize their marketing efforts.

2. Advances in information technology, networking and manufacturing technology have

helped companies to quickly match competition. As a result product quality and cost are
no longer significant competitive advantages.

3. The growth in service economy. Since services are typically produced and delivered at
the same institution, it minimizes the role of the middlemen.

4. Another force driving the adoption of CRM has been the total quality movement. When
companies embraced TQM it became necessary to involve customers and suppliers in
implementing the program at all levels of the value chain. This needed close working
relationships with the customers. Thus several companies such as Motorola, IBM, General
Motors, Xerox, Ford, Toyota, etc formed partnering relations with suppliers and
customers to practice TQM. Other programs such as JIT and MRP also made use of
interdependent relationships between suppliers and customers.

5. Customer expectations are changing almost on a daily basis. Newly empowered

customers, who choose, how to communicate with the companies various available
channels? Also nowadays consumers expect a high degree of personalization.

6. Emerging real time, interactive channels including e-mail, ATMs and call centre that
must be synchronized with customers non-electronic activities. The speed of business
change, requiring flexibility and rapid adoption to technologies.

7. In the current era of hyper competition, marketers are forced to be more concerned
with customer retention and customer loyalty.

8. As several researches have found out retaining customers is less expensive and more
sustainable competitive advantage than acquiring new ones.

9. On the supply side it pays more to develop closer relationships with a few suppliers
than to develop more vendors.

10. The globalization of world marketplace makes it necessary to have global account
management for the customers.

Introduction

When company communicates its customers the process can involve many different people within both organizations using a variety of
different methods. CRM is the acronym for the term Customer Relationship Management. The main tool that is used is an order that is
communicated by companys customer to its sales department. However this is only one of many communications that should be managed.
To ensure that company can provide the best customer service experience possible the use of customer relationshipmanagement (CRM)
software should be considered.
Typical CRM software will allow company to track and organize its contacts with its current and prospective customers. The software allows
your employees to store information about customers and customer interactions which then can be accessed by employees in different
departments within company.
There are three areas which in general company interacts with its customers.
Front Office Contacts
These involve the direct contact your employees have with your customers which can include phone calls, e-mail, instant messages and
face to face communication.
Back Office Operations
These are processes that are used to facilitate the front office, such as finance communications, marketing, customer billing and advertising.
Business Contacts
Your employees will interact with customers and suppliers through networking, industry events and trade associations.

What is Customer Relationship Management ?

Customer Relationship Management refers to the methodologies and tools that help businesses manage customer relationships in an
organized way.
Customer relationship management is a broadly recognized, widely-implemented strategy for managing a companys interactions with
customers, clients and sales prospects. It involves using technology to organize, automate, and synchronize business processes
principally sales activities, but also those for marketing, customer service, and technical support.

Purpose
The idea of CRM is that it helps businesses use technology and human resources to gain insight into the behavior of customers and the
value of those customers. With an effective CRM strategy, a business can increase revenues by:

providing services and products that are exactly what your customers want

offering better customer service

cross selling products more effectively

helping sales staff close deals faster

retaining existing customers and discovering new ones

make call centers more efficient

simplify marketing and sales processes.

For small businesses, customer relationship management includes:

CRM processes that help identify and target their best customers, generate quality sales leads, and plan and implement marketing
campaigns with clear goals and objectives.

CRM processes that help form individualized relationships with customers (to improve customer satisfaction) and provide the
highest level of customer service to the most profitable customers.

CRM processes that provide employees with the information they need to know their customers' wants and needs, and build
relationships between the company and its customers.

Customer relationship management tools include software and browser-based applications that collect and organize information about
customers. For instance, as part of their CRM strategy, a business might use a database of customer information to help construct a
customer satisfaction survey, or decide which new product their customers might be interested in.

Key Elements of CRM

CRM can be broken down into a number of different components which many software vendors have developed packages for. For the most
part, there are three areas which are core to successful customer relationship management :

Customer Service

Sales Force Automation

Campaign Management .

Customer Service
The customer service function in your company represents the front office functions that interact with your customers. These are the
business processes that allow your company to sell products and services to your customers, communicate with your customers with
regards marketing and dealing with the after sales service requirements of your customers. Each interaction with the customer is recorded
and stored within the CRM software where it can be retrieved by other employees if needed.
Sales Force Automation
Your companys sales department is constantly looking for sales opportunities with existing and new customers. The sales force automation
functionality of CRM software allows the sales teams to record each contact with customers, the details of the contact and if follow up is
required. This can provide a sales force with greater efficiencies as there is little chance for duplication of effort. The ability for employees
outside of the sales team to have access to this data ensures that they have the most recent contact information with customers. This is
important when customers contact employees outside of the sales team so that customers are given the best level of customer service.
Campaign Management
The sales team approach prospective customers in the hope of winning new business. The approach taken by the sales team is often
focused in a campaign, where a group of specific customers are targeted based on a set of criteria. These customers will receive targeted
marketing materials and often special pricing or terms are offered as an inducement. CRM software is used to record the campaign details,
customer responses and analysis performed as part of the campaign.
In today's fast-paced, competitive business environment it's more important than ever to create and maintain long-lasting business
relationships.
Today, CRM manages business processes spanning sales, support, and marketing creating effective customer interactions. Given the
purpose of CRM, the functionality is straightforward, and the benefits of successful deployments clearly generate value and profitability for
any company. Great CRM solutions need to encourage users to interact with the application as well as be in-tune with the business and IT
cost-saving needs.
For the up to date CRM to be world class it needs to be revolutionary in market incursion and evolutionary in technological up
gradation.
Today the major business focus is towards endowing value addition to the sales cycle, and customer retention rather than constructing a
new customer base which is costlier and also an uncertain chase from business perspective. The basic philosophy behind CRM is that a
company's relationship with the customer would be the biggest asset in the long run.

Before implementing any Customer Relationship Management solution in the organization there are many Question's which need a
comprehensive explanation from the users' point of view

What is the added value preposition of the CRM to the organization?

What would be the environment under which the implementation would be done?

How would the synergies be reflecting in the processes of the company?

These are mere stencils of the holistic scenario prevalent right now, and are to a great extent a factor which harms the opportunities of long
term survival for any CRM vendor.

CRM Building Blocks

Below are listed the following building blocks for successful CRM projects:
Vision
The board must take leadership in creating a CRM vision for the enterprise. The CRM vision should be used as the guide to the creation of
a CRM strategy.
Strategy
The CRM strategy is all about how to build and develop a valuable asset: the customer base. It must set objectives and metrics for attaining
that goal. It directs the objectives of other operational strategies and the CRM implementation strategy.
Customer experience
The customer experience must be designed in line with the CRM vision and must be constantly refined, based on actively sought customer
feedback.
Organizational collaboration
Changes to organizational structures, processes, metrics, incentives, skills, and even the enterprise culture must be made to deliver the
required external customer experience. Ongoing change management will be key.
Process
Successful customer process reengineering should create processes that not only meet customers' expectations and support the customer
value proposal, but also provide competitive differentiation and contribute to a designed customer experience.
Information
Successful CRM demands the creation of a customer-information blood supply that flows around the organization, as well as tight
integration between operational and analytical systems.
Technology
CRM technologies form a fundamental part of any enterprise's application portfolio and architecture. CRM application needs should be
considered as the provision of integrated functionality that supports seamless customer-centric processes across all areas of the enterprise
and its partners.
Metrics
Enterprises must set measurable CRM objectives and monitor all levels of CRM indicators to turn customers into assets. Without
performance management ,a CRM implementation will fail.
The above building blocks are part of the strategy framework to help organizations go through the important CRM journey. However,
successful implementation and using the CRM solution to benefit the business depends largely on the people (from
seniormanagement down) within the organization to truly adopt and embrace it.

Implementation of a CRM System

The keys to successful CRM implantation are the followings:

Develop your customer-focused strategy first before considering what kind of technology you need.

Break your CRM project down into manageable pieces by setting up pilot programs and short-term milestones. Start with a pilot
project that incorporates all the necessary departments but is small enough and flexible enough to allow tinkering along the way.

Make sure your CRM plans include a scalable architecture framework. Think carefully about what is best for your enterprise: a
solution that ties together best of breed software from several vendors via Web Services or an integrated package of software
from one vendor.

Don't underestimate how much data you might collect (there will be LOTS) and make sure that if you need to expand systems
you'll be able to.

Be thoughtful about what data is collected and stored. The impulse will be to grab and then store EVERY piece of data you can, but
there is often no reason to store data. Storing useless data wastes time and money.

Advantages of CRM
By using CRM methodology, an enterprise can:

Provide better customer service

Increase customer revenues

Discover new customers

Cross sell/Up Sell products more effectively

Help sales staff close deals faster

Make call centers more efficient

Simplify marketing and sales processes.

The Types of data, CRM software collects

CRM software collects the following types of data:

Responses to campaigns

Sales and purchase data

Account information

Web registration data

Service and support records

Demographic data

Shipping and fulfillment dates

Web sales data.

Disadvantages of CRM Systems

While advantages usually outweigh disadvantages for most organizations implementing an CRM system, here are some of the most
common obstacles experienced:

Record Loss

Training

Require additional work inputting data

Require continuous maintenance, information updating, and system upgrading costly

Difficult to integrate with other management information systems.

E-CRM
As the internet is becoming more and more important in business life, many companies consider it as an opportunity to reduce customerservice costs, tighten customer relationships and most important, further personalize marketing messages and enable mass customization.
Together with the creation of Sales Force Automation (SFA), where electronic methods were used to gather data and analyze customer
information, the trend of the upcoming Internet can be seen as the foundation of what we know as eCRM today.
We can define eCRM as activities to manage customer relationships by using the Internet, web browsers or other electronic touch points.
The challenge hereby is to offer communication and information on the right topic, in the right amount, and at the right time that fits the
customers specific needs.

Today's customers are a fast-moving, demanding crowd. They are looking for products and services that are proven yet innovative. They
want information at their fingertips. With the right CRM solutions in place, we can help organizations to build and nurture lasting one-on-one
relationships with customers. Thus, it enhances the business efficiencies and profitability.

Different levels of eCRM

In defining the scope of eCRM, three different levels can be distinguished:
Foundational services
This includes the minimum necessary services such as web site effectiveness and responsiveness as well as order fulfillment.
Customer-centered services
These services include order tracking, product configuration and customization as well as security/trust.
Value-added services
These are extra services such as online auctions and online training and education.
Self-services are becoming increasingly important in CRM activities. The rise of the Internet and eCRM has boosted the options for selfservice activities. A critical success factor is the integration of such activities into traditional channels. CRM activities are mainly of two
different types.
Reactive service is where the customer has a problem and contacts the company.
Proactive service is where the manager has decided not to wait for the customer to contact the firm, but to be aggressive and contact the
customer himself in order to establish a dialogue and solve problems.

Implementing and integrating CRM solutions

Several CRM software packages exist that can help companies in deploying CRM activities. Besides choosing one of these packages,
companies can also choose to design and build their own solutions. In order to implement CRM in an effective way, one needs to consider
the following factors:

Create a customer-based culture in the organization.

Adopt customer-based managers to assess satisfaction.

Develop an end-to-end process to serve customers.

Recommend questions to be asked to help a customer solve a problem.

Track all aspects of selling to customers, as well as prospects.

Furthermore, CRM solutions are more effective once they are being implemented in other information systems used by the company.
Examples are Transaction Processing System (TPS) to process data real-time, which can then be sent to the sales and finance
departments in order to recalculate inventory and financial position quick and accurately. Once this information is transferred back to the
CRM software and services it could prevent customers from placing an order in the belief that an item is in stock while it is not.

Implementing CRM:

CRM requires an integration of a firm's resources; people, operations and marketing

capabilities to deliver added value to the customers. CRM should provide businesses and
organizations with a single view of their customers and across irrespective of the
interactive channel or medium through which the customer accesses the service or
product. For example, a business (e.g. hotel) customers profile and personal references
should be accessible to the business (or hotel) irrespective of channel i.e. whether the
customer books online, calls in or walks into any location should not make a difference to
the service provided based on the personal profile of the business client.

It is enabled through:

Information
Processes
Technology
Applications

A firm that wants to implement CRM must align it's business processes crossfunctionally in the best possible way to allow increased customer focus with an aim to
deliver added value to the customer.

To implement CRM, the following steps must be followed:

Develop a CRM framework

Align current business processes
Design new cross-functional business processes (where required)
Develop Functional Specifications (client-side services)
Develop Technical Specifications
Match Technical Specifications to available technology (Systems, software, etc)
Product Configuration
Data Migration and Integration
Staff Training

 Customer Segmentation: For CRM to be effective, the organizations customer base

must be stratified into segments based on commonalities amongst groups of
individuals and customers. This also requires the organization to have strategies to
target consolidated customer segments.
Reduced Cost of Service: a customer relationship strategy should reduce the cost of
service for both the organization and its customers and increase satisfaction levels.
Service as a differentiator: The more competitive a market becomes the more a
business will need to rely on its superior product quality and quality of service to
differentiate itself from other businesses and providers.
Tie-ins over time: The greater the effort a customer spends on a relationship over
time, the greater the customers stake in helping to ensure that the relationship
works and the more convenient and loyal the customer becomes.

Pitfalls to avoid:
Many CRM programs fail for two reasons:

1. Lack of supportive business processes: Because business processes and

organizational goals are not part of a strategic CRM plan tied to organizational goals
and objectives.

2. Lack of an enterprise perspective: For Relationship Marketing to be effective, it

requires that the organization creates a seamless enterprise view. A lot of CRM
programs fail because they are assembled with disparate components that aren't
designed to work together as part of a complete CRM system designed to meet
organizational objectives.

Customer Relationship Management Model

CREATE A DATA BASE

ANALYSIS

CUSTOMER SELECTION

CUSTOMER TARGETING

RELATIONSHIP MARKETING

PRIVACY ISSUES

METRICS

Customer Retention Programs

FREQUENCY/
LOYALTY
PROGRAMS

CUSTOMER

CUSTOMIZATION

SERVICE
REWARDS

COMMUNITY

PROGRAMS

BUILDING

CUSTOMER
RELATIONSHIP
MANAGEMENT
SATISFACTION

Objective of the study of CRM

CRM, in its broadest sense, means managing all interactions and business with
customers. This includes, but is not limited to, improving customer service. A good CRM
program will allow a business to acquire customers, service the customer, increase the
value of the customer to the company, retain good customers, and determine which
customers can be retained or given a higher level of service. A good CRM program can
improve customer service by facilitating communication in several ways:

Provide product information, product use information, and technical assistance on

web sites that are accessible 24 hours a day, 7 days a week
Identify how each individual customer defines quality, and then design a service
strategy for each customer based on these individual requirements and expectations.
Provide a fast mechanism for managing and scheduling follow-up sales calls to
assess post-purchase cognitive dissonance, repurchase probabilities, repurchase
times, and repurchase frequencies.
Provide a mechanism to track all points of contact between a customer and the
company, and do it in an integrated way so that all sources and types of contact are
included, and all users of the system see the same view of the customer (reduces
confusion).
Help to identify potential problems quickly, before customer occur
Provide a user-friendly mechanism for registering customer complaints (complaints
that are not registered with the company cannot be resolved, and are a major source
of customer dissatisfaction).
Provide a fast mechanism for handling problems and complaints (complaints that
are resolved quickly can increase customer satisfaction).
Provide a fast mechanism for correcting service deficiencies (correct the problem
before other customers experience the same dissatisfaction).

 Use internet cookies to track customer interests and personalize product offerings
accordingly
Use the Internet to engage in collaborative customization or real-time customization
Provide a fast mechanism for managing and scheduling maintenance, repair, and
ongoing support (improve efficiency and effectiveness)
Mechanism to evaluate Potential KOMs.
To develop integrated Database.
Assessing the need of Potential KOMs.
Ways to meet those needs.
Identify the softer elements.
Devising a way to Retain and grow with those KOMs.
Moving further ahead Satisfaction Delightment LOYALITY
To develop Strategy and action plan on quarter & annual basis.
To gain knowledge about consumer behaviour
To know, how to maintain relationship with customer?
To know, the needs analysis of customer
To understand, with the help of feedback form that why customers are not trading
with Angel
To know, the customer perception about companys products & services
To know, the grievances among the customers about products & services

The CRM program can be integrated into other cross-functional systems and
thereby provide accounting and production information to customers when they want it.

Keeping Existing Customers

Grading customers from very satisfied to very disappointed should help the
organization in improving its customer satisfaction levels and scores. As the satisfaction
level for each customer improves, so shall the customer retention with the organization.

 Maximizing Life time value

Exploit up-selling and cross-selling potential. By identifying life stage and life event
trigger points by customer, marketers can maximize share of purchase potential. Thus the
single adults shall require a new car stereo and as he grows into a married couple his
needs grow into appliances.

Increase Loyalty
Loyal customers are more profitable. Any company will like its mindshare status to
improve from being a suspect to being an advocate. Company has to invest in terms of its
product and service offerings to its customers. It has to innovate and meet the very needs
of its customers so that they remain as advocates on the loyalty curve. Referral sales
invariably are low cost high margin sales.

Architecture of CRM

There are three parts of application architecture of CRM:

1. Operational - automation to the basic business processes (marketing, sales, service)

2. Analytical - support to analyze customer behavior, implements business intelligence
aliketechnology
3. Collaborative - ensures the contact with customers (phone, email, fax, web, SMS,
post, in person)
1. Operational CRM

Operational CRM means supporting the "front office" business processes, which
include customer contact (sales, marketing and service). Tasks resulting from these
processes are forwarded to resources responsible for them, as well as the information
necessary for carrying out the tasks and interfaces to back-end applications are being
provided and activities with customers are being documented for further reference.
Operational CRM provides the following benefits:

 Delivers personalized and efficient marketing, sales, and service through multichannel collaboration
Enables a 360-degree view of your customer while you are interacting with them
Sales people and service engineers can access complete history of all customer
interaction with your company, regardless of the touch point. The operational part
of CRM typically involves three general areas of business:
Sales force automation (SFA)

SFA automates some of the company's critical sales and sales force management
functions, for example, lead/account management, contact management, quote
management, forecasting, sales administration, keeping track of customer preferences,
buying habits, and demographics, as well as performance management. SFA tools are
designed to improve field sales productivity. Key infrastructure requirements of SFA are
mobile synchronization and integrated product configuration.

Customer service and support (CSS)

CSS automates some service requests, complaints, product returns, and information
requests.
Traditional internal help desk and traditional inbound call-center support for customer
inquiries are now evolved into the "customer interaction center" (CIC), using multiple
channels (Web, phone/fax, face-to-face, kiosk, etc). Key infrastructure requirements of
CSS include computer telephony integration (CTI) which provides high volume processing
capability, and reliability.

Enterprise marketing automation (EMA)

EMA provides information about the business environment, including competitors,

industry trends, and macro-environmental variables. It is the execution side of campaign
and lead management. The intent of EMA applications is to improve marketing campaign

efficiencies. Functions include demographic analysis, variable segmentation, and

predictive modeling occurs on the analytical (Business Intelligence) side.

Integrated CRM software is often also known as "front office solutions." This is
because they deal directly with the customer. Many call centers use CRM software to store
all of their customer's details. When a customer calls, the system can be used to retrieve
and store information relevant to the customer. By serving the customer quickly and
efficiently, and also keeping all information of a customer in one place, a company aims to
make cost savings, and also encourage new customers.

CRM solutions can also be used to allow customers to perform their own service via
a variety of communication channels. For example, you might be able to check your bank
balance via your WAP phone without ever having to talk to a person, saving money for the
company, and saving your time.

2. Analytical CRM

In analytical CRM, data gathered within operational CRM and/or other sources are
analyzed to segment customers or to identify potential to enhance client relationship.
Customer analysis typically can lead to targeted campaigns to increase share of customer's
wallet. Examples of Campaigns directed towards customers are:

Acquisition: Cross-sell, up-sell

Retention: Retaining customers who leave due to maturity or attrition.
Information: Providing timely and regular information to customers.
Modification: Altering details of the transactional nature of the customers'
relationship.
Analysis typically covers but is not limited to:
Decision support: Dashboards, reporting, metrics, performance etc.
Predictive modeling of customer attributes
Strategy and Research Analysis of Customer data may relate to one or more of the
following analyses:
Contact channel optimization
Contact Optimization
Customer Acquisition / Reactivation / Retention

Customer Segmentation
Customer Satisfaction Measurement / Increase
Sales Coverage Optimization
Fraud Detection and analysis
Financial Forecasts
Pricing Optimization
Product Development
Program Evaluation
Risk Assessment and Management

Data collection and analysis is viewed as a continuing and iterative process. Ideally,
business decisions are refined over time, based on feedback from earlier analysis and
decisions. Therefore, most successful analytical CRM projects take advantage of a data
warehouse to provide suitable data. Business Intelligence is a related discipline offering
some more functionality as separate application software.

3. Collaborative CRM

Collaborative CRM facilitates interactions with customers through all channels

(personal, letter, fax, phone, web, e-mail) and supports co-ordination of employee teams
and channels. It is a solution that brings people, processes and data together so companies
can better serve and retain their customers. The data/activities can be structured,
unstructured, conversational and/or transactional in nature.

Collaborative CRM provides the following benefits:

Enable efficient productive customer interactions across all communications

channels
Enables web collaboration to reduce customer service costs
Integrates call centers enabling multi-channel personal customer interaction
Integrates view of the customer while interaction at the transaction level

Company Profile:

Angel Broking Limited is one of the leading and professionally managed stock
broking firm involved in quality services and research. Angel Broking Limited is a
corporate member of The Stock Exchange, Mumbai.
The membership of the company with The Stock Exchange Mumbai was originally
in the name of Mukesh R. Gandhi, which was eventually turned into a corporate
membership in the name of Angel Broking Limited.
Angel Broking Limited is managed by Mr. Dinesh Thakkar and he is well supported
by Mr. Mukesh Gandhi, a fifteen years veteran in the market.
The group is well supported by a professional and qualified research team and
efficient operations and back office team, which comprises of highly dedicated and
qualified individuals. Angel has an in-house, state of art research department.
Angel believes in reaching out to the customer at the farthest end rather than by
reaching out to them. The company in its Endeavour to give its client the best has opened
up several branches all over Mumbai, which are efficiently integrated with the Head
Office.
Angel Broking Limited is primarily into retail stock broking, with a customer base of
retail investors, which has been increasing at a compounded growth rate of 100% every
year. The company has huge network sub-brokers in Mumbai and other places outside
Mumbai, registered with SEBI, who act as channel partners for the company. The
company presently has the total staff strength of around 150 employees who are spread
accordingly across the head office and all the branches.
Angel has empowered its physical presence throughout India through various
strategies which it has been adopting efficiently and effectively over a period of time, like
opening up of branches at various places, tie-ups with various agencies and sales agents,
buy-outs of smaller regional outfits and appointment of sub-brokers and franchisees.
Moreover, Angel Broking Ltd. has been tapping and including high net-worth and selfemployed individuals to its vast array of clients.
Angel has always strived in the direction of delivering ultimate client satisfaction
and developing stronger bonds with its customers and chose partners. Angel has a vision
to introduce new and innovative products and services regularly. Moreover Angel has
been one among the pioneers to introduce the latest technological innovations and
integrate it efficiently within its business.

Angel Broking Ltd tryst with excellence in customer relations began in 1987. Today,
Angel has emerged as one of the most respected Stock-Broking and Wealth Management

Companies in India. With its unique retail-focused stock trading business model, Angel is
committed to providing Real Value for Money to all its clients.
The Angel Group is a member of the Bombay Stock Exchange (BSE), National Stock
Exchange (NSE) and the two leading Commodity Exchanges in the country: NCDEX &
MCX. Angel is also registered as a Depository Participant with CDSL

Angels Business
Equity Trading
Commodities
Portfolio Management Services
Mutual Funds Life Insurance
Personal Loans
IPO
Depository Services
Investment Advisory

Angels Presence
Nation-wide network of 21 Regional Hubs
Presence in 124 cities
Over 6810 Sub-Brokers & Business Associates
More than 5.9 lakh Clients

Angel Group
Angel Broking Ltd.
Angel Capital & Debt Market Ltd.
Angel Commodities Broking Ltd.

 Angel Securities Ltd.

Products and Services of Angel

We have been trained and introduced to Angels various product and

services, which are as follows:

E-Broking: Angel offers several user-friendly services to customers so that they can manage
their stock portfolio. Including, online capabilities linked to an information database to
help customers invest, confidently. Our e-broking services are specially designed for the
net-savvy traders and investors who prefer operating from their home or office, through
the internet.
There are two types of software.

1. Browser-Based
Angel Investor
Angel Trade
2. Application-Based
Angel Diet
Angel Anywhere

USPs of Angel E-broking

Multiple Exchanges on a single screen- BSE, NSE-F&O, MCX, NCDEX

 Hot keys similar to brokers terminal

Streaming quotes
Products/Software/Back office training for all E-broking clients
In-depth research & technical chart, intra-day calls
24x7 Back-office
Viewing ledger, Bills, Contracts, Sauda summary, Open Position, Holdings, DP
Transactions, Auction Details.
Auto pay-in of shares & Online Securities Pay-Out
Instant transfer of fund & Online Funds pay-out request
Highly secure and confidential

Portfolio management service

Successful investing in Capital Markets demands ever more time and expertise.
Investment Management is an art and a science in itself. Professional Investment
Management Services are no longer the privilege of only large institutional investors.
Portfolio Management Services (PMS) is one such service that is fast gaining eminence as
an investment avenue of choice for High Networth Investors like you. PMS is a
sophisticated investment vehicle that offers a range of specialized investment strategies to
capitalize on opportunities in the market. The Portfolio Management Service combined
with competent fund management, dedicated research and technology, ensures a
rewarding experience for its clients.

PRODUCT BOUQUET
a- Angel Oyster
Chief Investment Officer Mr. Rajen Shah

Bottom up concentrated portfolio of Mid Cap & Small Cap Companies with
emphasis on Value Investing.

Investor Profile:
The scheme would be suited for investors with medium to high risk appetite having long
term perspective

Fees and Charges

2% Asset Management Charges
0.50% brokerage on transactions

b- Angel Blue-chip
Fund Manager Mr. Phani Sekhar

Diversified Equity portfolio of Large cap & Mid Cap Companies.

Investor Profile:
The scheme would be suited for investors with medium to low risk appetite, having long
term perspective.

Fees and Charges

2% Asset Management Fees
0.50% Brokerage on transactions

Angel Equity Derivatives Fund

Fund Manager Mr. Siddarth Bhamre

Bottom-Up concentrated portfolio with Equities & Derivatives, and emphasis on

Hedging by using volatility in the Markets.

Investor Profile:
The scheme would be suited for investors with low to medium risk appetite, having
long term perspective.
Suitable for HNI Clients and Corporate who want to park money for consistent
Return from the market even if market remained flat.

Fees and Charges

2% Asset Management Charges
0.10% on Delivery and Rs.50 flat on options, 0.01% on futures

c- Angel Growth
Fund Manager Mr. Phani Sekhar

Diversified Equity portfolio of Large cap & Mid Cap Companies with emphasis on
growth Investment.

Investor Profile:
The scheme would be suited for investors with moderate risk appetite.
Recommended investment horizon is 15 to 18 months.

Fees and Charges:

2% Asset Management Charges
0.5% brokerage on transactions

PMS characteristics: -

Personalized Service
Interaction with Fund Manager
Regular feedback and reports
Pro-active management of funds
Holdings not impacted by entry/exit of big investors
Can remain liquid for long periods
Disciplined investment process
Quality investments
Limiting risk
Low portfolio turnover
Focus on generating Absolute returns rather than Relative Returns

Angel GoldProduct- Features of Angel Gold

A premium service for clients who needs professional guidance on

long term investments
Minimum funds or portfolio of Rs.1 Lakh and maximum of Rs.4 Lakhs will be
eligible for Angel Gold..
Brokerage of 0.50%-0.75% for clients. 50% sharing of brokerage in case of Subbrokers clients.
No AMC, No Entry/Exit load and No profit sharing
Shares can be kept in Angel pool or can be transferred to the respective DP accounts
Intimation regarding transaction will be given to clients by evening of the day of
transaction
No Lock-in period. Profits can be redeemed or re-investing based on clients wish

Existing client account can be used for Angel GOLD. Clients can do there own
transactions in the same account as well.
Research Director Mr. Lalit Thakkar along with 12 senior analysts will take
investment decisions
Investment will be done for a longer time horizon. (12-18 Months)
Browser based BO software for clients and branches
Monthly Newsletter will be released from Angel GOLD desk

 Periodic meetings will be held in the branches

POSITIONING

Angel GOLD is positioned as an equity investment option for all those investors who
aim for realistic return from equity as an asset class on a long term perspective.
It is for the investors who, wishes to seek professional advice for their investments.
Unique selling Preposition (USP)

A strong team of 11 sector specific analysts headed by Research director guiding the
investments
No Entry/Exit load, No profit sharing, No Management fees
A corpus limit as low as Rs.1 Lakh.
A portfolio of growth stocks and not market capitalization bias.
Flexibility of reinvesting, redeeming and liquidating the portfolio
A low cost solution for investing.
Product Segment

Angel GOLD is for the people who fall in middle class higher middle class section
of the society
People who are not risk averse and can understand the return
benefits vis--vis calculated risk taken
People who are new entrant to the equity markets, normally coming through the
Mutual Fund route.
Target Customers

Young professionals earning salaries around Rs.3 Lacs to Rs.6 Lacs with one or two
years experience
Middle aged professionals considering traditional ways of investing i.e. FDs, PPF,
gold, bonds, etc.
Small scale businessmen who are not risk averse and will understand the
importance of reasonable returns

 Retired people who have taken hefty VRS or has savings of which 20-25% can be
invested in equities

Margin Funding and prepaid brokerage

Margin Funding

Margin Funding allow you to take higher exposure on the funds as well as unlock
the value of your existing portfolio & take advantage of investment opportunities in the
market without the involvement of fresh funds. One can use the shares in his current
portfolio to make fresh purchases in the market. If utilized prudently, this product can
help unlock the value of Securities even during depressed Stock Market conditions and
provide customers with the much-needed liquidity during pressing times.

Advantages:

Provide instant liquidity without having to sell your Securities.

Allow you to grab investment opportunities instantly without any need to pay first.
Leverage your funds available for investments.
Benefits like bonuses and dividends continue to accrue to the borrower.
Any appreciation in the value of the Securities given as margin would automatically
allow enhancement in drawing power.
Interest calculated on the amount utilized & the time for which it is utilized.

Pre-Paid Brokerage

Pre-paid brokerage is one of the best schemes for customers to take the advantages
of less brokerage. Different pre-paid recharge are available with different validity. Some
characteristics of pre-paid brokerage are as follows: -

Zero account opening charges

Attractive Brokerage Rate

Free DP AMC for 1 year
Assured gifts worth thousands with every account.
Easy & Fast Recharge
Free Financial Investment Application with every account

Quality Assurance by Angel

Angel Broking is the First Brokerage House to have a Quality Assurance Cell across
Industry Dedicated QA teams at CSO & branches to resolve client queries/ complaints
through telephone, email or visit. Quality assurance cell is one such significant milestone
achieved by the company, which stands for its performance. Established in 2005,the cell
was set up as the compelling need was felt to shift from customer satisfaction to customer
delight Angels definition of Quality- Product and services that totally satisfy and often
exceed customer needs and expectations in all respect to delight him.

Simply put, Quality is achieving a high degree of excellence in all forms of activities
from design, development, serving and documentation. Right First Time and Right Every
Time. And to achieve that, they follow the 4 P Quality model:

Problem solving-continuous improvement and learning

People and Partners-Respect, challenge, growth
Process-Standardized tasks for continuous improvement
Philosophy-Long term thinking

Research & Advisory

The markets ended Monday marginally in the green, after opening weak due to
concerns about Swine flu. The Indices were weak at the outset of the Tuesday ending the
day in red. Markets surged on Wednesday on positive global cues and short covering in
April 2009 derivatives contracts. The markets remained closed both on Thursday and

Friday. The markets just ended the week positive, with the Sensex gaining 0.7% and the
Nifty closing marginally lower by 0.2%

Fundamental Analysis

Fundamental analysis is one of the most useful tools that investors use when making
decisions about which stocks theyre going to buy. It is a process of examining key ratios
that show the current worth of a stock and the recent performance of a company.
Fundamental analysis is used to determine the amount of money a company can make
and the kind of earnings an investor can expect. Future earnings may be subject to
interpretation but good earning histories create confidence among investors. The stock
prices may increase and the dividends may pay out.

Stock market analysts determine whether a company is meeting its expected growth
by examining the earnings that are reported by the company on a regular basis. If the
company doesnt meet its expected growth, the prices of its stocks usually experience a
downturn.

There are a lot of tools that are used to determine the earnings and the value of a
company on the stock market. Most of these tools rely on the financial statements released
by the company. Details about the value of a company which include competitive
advantages and ownership ratios between the management and the outside investors can
be revealed through further fundamental analyses.

Fundamental analysis is for the rational man

To make financial forecasts

To conduct a company stock valuation & predict its probable price
evolution

 To make a projection on its business performance

To evaluate its management and make internal business decisions
To calculate its credit risk

Technical Analysis

The art and science of examining stock chart data and predicting future stock
market movements is called technical analysis. This style of analysis is used by
investors who are often concerned about the nature and the value of the companies
where they trade their stocks in. The holdings are usually short-term since the
investors drop the stocks once they reach their projected profit.

The belief that stock prices move in predictable patterns is the basis for
technical analysis. The factors that influence the movement of the price are
supposedly reflected in the stock market with great efficiency. These factors include
company performance, economic status, and natural disasters. The efficiency, when
coupled with historical trends, produces movements that can be analyzed and
applied to the future movements of the stock market. Because the fundamental
information about the potential growth of a company is not taken into account,
technical analysis is not intended for long-term investments. Trades are entered and
exited at precise times so technical analysts need to spend a lot of time watching the
movements of the stock market. Investors can take advantage of both upswings and
downswings in price by going either long or short. In the event that the market
doesnt move as expected, the losses can be limited by stop-loss orders.

Hundreds of stock patterns have been developed over time. Most of these
patterns rely on the basic concepts of support and resistance. The level where
downward prices are expected to rise from is called the support while the level
where the upward prices are expected to reach before falling again is called the
resistance. Once they hit the support or the resistance levels, the prices tend to
bounce.

Value Added Services

NRI Service Desk for personalized Assistance

Dedicated Offline Equity Dealing Desk
Online Equity Trading Platform
NRI Investment Advisory Desk
PAN card Assistance
Support for Banking & PIS Account
Portfolio Management, Mutual Fund, IOP Services

Training

A training program can serve a range of diverse purposes, and organizations initiate
training programs for many different reasons. One of the strongest need of training is to
respond to challenges presented by new technology. Customer Relationship Management
training at Angel Broking helped us to meet the challenges in current market scenario. We
came to know about maintaining long lasting customer relationship. We were covered by
Motivational speeches by Board of directors, Product and services, Role plays, Brain
storming, Scrip designing, Back office, Different departments at Angel and the way they
execute their tasks, Research and Advisory, Wealth management services, Value added
services and healthy discussions ,Which are as follows in detail:

Importance & Needs of Training

Optimum Utilization of Human Resources Training helps in optimizing the utilization

of human resource that further helps the employee to achieve the organizational goals as
well as their individual goals.

Development of Human Resources Training helps to provide an opportunity and broad

structure for the development of human resources technical and behavioral skills in an
organization. It also helps the employees in attaining personal growth.

Development of skills of employees Training helps in increasing the job knowledge and
skills of employees at each level. It helps to expand the horizons of human intellect and an
overall personality of the employees.

Productivity Training helps in increasing the productivity of the employees that helps
the
organization
further
to
achieve
its
long-term
goal.

Team spirit Training helps in inculcating the sense of team work, team spirit, and interteam collaborations. It helps in inculcating the zeal to learn within the employees.

Organization Culture Training helps to develop and improve the organizational health
culture and effectiveness. It helps in creating the learning culture within the organization.

Organization Climate Training helps building the positive perception and feeling about
the organization. The employees get these feelings from leaders, subordinates, and peers.

Quality Training helps in improving upon the quality of work and work-life.

Healthy work-environment Training helps in creating the healthy working

environment. It helps to build good employee, relationship so that individual goals aligns
with
organizational
goal.
Health and Safety Training helps in improving the health and safety of the organization
thus preventing obsolescence.

Morale

Image

Training
Training

helps

in

helps

improving
in

the

creating

morale
a

better

of

the

work

corporate

force.
image.

Profitability Training leads to improved profitability and more positive attitudes

towards profit orientation.

Training aids in organizational development i.e. Organization gets more effective

decision making and problem solving. It helps in understanding and carrying out
organizational policies.

Training helps in developing leadership skills, motivation, loyalty, better attitudes,

and other aspects that successful workers and managers usually display.

METHODS OF TRAINING
The most widely used methods of training used by organizations are classified into
two categories: On-the-Job Training & Off-the-Job Training.
ON-THE-JOB TRAINING is given at the work place by superior in relatively short period
of time. This type of training is cheaper & less time-consuming. This training can be
imparted
by
basically
four
methods:
Coaching is learning by doing. In this, the superior guides his sub-ordinates & gives
him/her job instructions. The superior points out the mistakes & gives suggestions for
improvement.
Job Rotation: - In this method, the trainees move from one job to another, so that he/she
should be able to perform different types of tasks. E.g. In banking industry, employees are
trained for both back-end & front-end jobs. In case of emergency, (absenteeism or
resignation), any employee would be able to perform any type of job.
OFF

THE

JOB

TRAINING

is

given

outside

the

actual

work

place.

Lectures/Conferences:- This approach is well adapted to convey specific information,

rules, procedures or methods. This method is useful, where the information is to be
shared among a large number of trainees. The cost per trainee is low in this method.
Video Clips can provide information & explicitly demonstrate skills that are not easily
presented by other techniques. Motion pictures are often used in conjunction with
Conference, discussions to clarify & amplify those points that the film emphasized.
Simulation Exercise: - Any training activity that explicitly places the trainee in an artificial
environment that closely mirrors actual working conditions can be considered a
Simulation. Simulation activities include case experiences, experiential exercises,
vestibule training, management games & role-play.
Cases: - present an in depth description of a particular problem an employee might
encounter on the job. The employee attempts to find and analyze the problem, evaluate
alternative courses of action & decide what course of action would be most satisfactory.
Experiential Exercises: - are usually short, structured learning experiences where
individuals learn by doing. For instance, rather than talking about inter-personal conflicts
& how to deal with them, an experiential exercise could be used to create a conflict
situation where employees have to experience a conflict personally & work out its
solutions.

Vestibule Training: - Employees learn their jobs on the equipment they will be using, but
the training is conducted away from the actual work floor. While expensive, Vestibule
training allows employees to get a full feel for doing task without real world pressures.
Additionally, it minimizes the problem of transferring learning to the job.
Role Play: - Its just like acting out a given role as in a stage play. In this method of
training, the trainees are required to enact defined roles on the basis of oral or written
description
of
a
particular
situation.
Management Games: - The game is devised on a model of a business situation. The
trainees are divided into groups who represent the management of competing companies.
They make decisions just like these are made in real-life situations. Decisions made by the
groups are evaluated & the likely implications of the decisions are fed back to the groups.
The game goes on in several rounds to take the time dimension into account.
In-Basket Exercise: - Also known as In-tray method of training. The trainee is presented
with a pack of papers & files in a tray containing, administrative problems & is asked to
take decisions on these problems & are asked to take decisions on these within a
stipulated time. The decisions taken by the trainees are compared with one another. The
trainees are provided feedback on their performance.

RECOMMENDATIONS & CONCLUSION

No doubt Training is a very powerful tool for the smooth functioning of the
organization, but it needs to be used with care in order to derive all the benefits. Here
are seven recommendations for getting the best out of this tool: 1. Learn about the needs and proficiency of each and every employee before an
organization invests its effort, time & money on training. Its better to identify the needs &
shortcomings in an employee before actually imparting training to him/her.
2. Experienced & skilled trainer, who possesses good amount of knowledge &
understanding about the organization's objectives, individual abilities & the present
environment,
should
give
training.
3. Active participation from the trainees should be encouraged. There should be a two-way
communication
between
the
trainer
&
trainee.
4. Feedback should be taken from the trainees after the training is over, so that the

organization comes to know about the deficiencies in the training program & also
suggestions
to
improve
upon
the
same.
5. Focus of training should be on priority development needs and to produce strong
motivation to bring change in employees.
6. The cost incurred on the training program should not exceed its benefits.
7. The method or type of training should be very cautiously selected by the organization
depending upon the organizations' resources & an employee's individual need for training.
Thus, training is a vital tool to cope up with the changing needs & technologies, &
ever-changing environment. It benefits both the organization as well as the employees.

Training adopted by us at Angel-

We adopted a procedural training to execute our given tasks. A procedure is a

sequence of steps that must be followed to accomplish a task. These steps may be required
a certain level of knowledge or have mental or physical skills associated with them. A
procedure may be linear, that is, progress from one step to the next until the task is
completed, or a procedure may have one or more decision points where the student will
have to decide which branch of the procedure to follow next.

For short, simple, linear procedures, the following method of explanation and
demonstration is recommended:

a. The instructor demonstrates the entire procedure and explains each step as it is done.

b. The instructor repeats the demonstration but has the trainee explain what actions are
occurring.

c. The trainee demonstrates the procedure and explains what he/she is doing at each step.
d. The trainee demonstrates the procedure again so that the instructor can check for full
mastery.

The instructor continues this "progressive parts" approach until the entire
procedures is explained. It is sometimes appropriate to combine several simpler steps
during the training or address a more complex step individually before combining it with
the
entire
training.
For procedures that have decision points, an overview of the entire procedure is a
good starting point. After that the procedure should be broken up into segments for
further instruction. The decision points within a procedure are good break points for the
segments. An instructor can talk about the sequence of steps prior a decision point, or the
steps between decision points. Depending upon whether the segments are simple or
complex, the methods outlined above can be used for each segment. The information
needed to make the decisions also needs to be covered at the appropriate point in the
lesson. For more complex decision points, it is recommended that all segments be
explained and demonstrated before discussing the decision points. It is easier for a person
to make a more complex decision when they understand the steps that make up the
alternative branches of the procedure.

Training Under Different DepartmentWe have been trained under following departments-

1-Commodities

Commodity markets are markets where raw or primary products are

exchanged. These raw commodities are traded on regulated commodities exchanges, in
which they are bought and sold in standardized contracts.

Commodities are easy to Understand and have positive correlation with Inflation.
The Commodity market are global in nature , hence less risk for manipulation.
Every commodity have separate market in Itself and hence many such market is
simulated at one single screen.
The trend in one commodity not necessarily have correlation with the trend of other.
Historically Commodities have outperformed the Stock Market .
Diversification through a different asset class.
Low Margins 5% - 10% only

Industry Analysis

Industry Analysis at Indian level

1. Introduction

There are two types of market in India.

MONEY MARKET
Money market is a market for debt securities that pay off in the short term usually
less than one year, for example the market for 90-days treasury bills. This market
encompasses the trading and issuance of short term non equity debt instruments including
treasury bills, commercial papers, bankers acceptance, certificates of deposits, etc.
In other word we can also say that the Money Market is basically concerned with the issue
and trading of securities with short term maturities or quasi-money instruments. The
Instruments traded in the money-market are Treasury Bills, Certificates of Deposits (CDs),

Commercial Paper (CPs), Bills of Exchange and other such instruments of short-term
maturities (i.e. not exceeding 1 year with regard to the original maturity)
CAPITAL MARKET
Capital market is a market for long-term debt and equity shares. In this market, the
capital funds comprising of both equity and debt are issued and traded. This also includes
private placement sources of debt and equity as well as organized markets like stock
exchanges.

Capital market can be divided into Primary and Secondary Markets.

Primary Market
In the primary market, securities are offered to public for subscription for the purpose of
raising capital or fund. Secondary market is an equity trading avenue in which already
existing/pre- issued securities are traded amongst investors. Secondary market could be
either auction or dealer market. While stock exchange is the part of an auction market,
Over-the-Counter (OTC) is a part of the dealer market.
Secondary Market
Secondary Market refers to a market where securities are traded after being initially
offered to the public in the primary market and/or listed on the Stock Exchange. Majority
of the trading is done in the secondary market. Secondary market comprises of equity
markets and the debt markets.
For the general investor, the secondary market provides an efficient platform for
trading of his securities. For the management of the company, Secondary equity markets
serve as a monitoring and control conduitby facilitating value-enhancing control
activities, enabling implementation of incentive-based management contracts, and
aggregating information (via price discovery) that guides management decisions.

Difference between the primary market and the secondary market

In the primary market, securities are offered to public for subscription for the
purpose of
raising capital or fund. Secondary market is an equity trading avenue in which already
existing/pre- issued securities are traded amongst investors. Secondary market could be
either auction or dealer market. While stock exchange is the part of an auction market,
Over-the-Counter (OTC) is a part of the dealer market.

Main financial products/instruments dealt in the secondary market

Equity: The ownership interest in a company of holders of its common and
preferred stock. The various kinds of equity shares are as follows
Equity Shares:
An equity share, commonly referred to as ordinary share also represents the form of
fractional ownership in which a shareholder, as a fractional owner, undertakes the
maximum entrepreneurial risk associated with a business venture. The holders of
such shares are members of the company and have voting rights. A company may
issue such shares with differential rights as to voting, payment of dividend, etc.
Rights Issue/ Rights Shares: The issue of new securities to existing shareholders at a
ratio to those already held.
Bonus Shares: Shares issued by the companies to their shareholders free of cost by
capitalization of accumulated reserves from the profits earned in the earlier years.
Preferred Stock/ Preference shares: Owners of these kind of shares are entitled to a
fixed dividend or dividend calculated at a fixed rate to be paid regularly before
dividend can be paid in respect of equity share. They also enjoy priority over the
equity shareholders in payment of surplus. But in the event of liquidation, their
claims rank below the claims of the companys creditors, bondholders / debenture
holders.
Cumulative Preference Shares: A type of preference shares on which dividend
accumulates if remains unpaid. All arrears of preference dividend have to be paid
out before paying dividend on equity shares.
Cumulative Convertible Preference Shares: A type of preference shares where the
dividend payable on the same accumulates, if not paid. After a specified date, these
shares will be converted into equity capital of the company.
Participating Preference Share: The right of certain preference shareholders to
participate in profits after a specified fixed dividend contracted for is paid.
Participation right is linked with the quantum of dividend paid on the equity shares
over and above a particular specified level.
Security Receipts: Security receipt means a receipt or other security, issued by a
securitisation company or reconstruction company to any qualified institutional

buyer pursuant to a scheme, evidencing the purchase or acquisition by the holder

thereof, of an undivided right, title or interest in the financial asset involved in
securitisation.
Government securities (G-Secs): These are sovereign (credit risk-free) coupon
bearing instruments which are issued by the Reserve Bank of India on behalf of
Government of India, in lieu of the Central Government's market borrowing
programme. These securities have a fixed coupon that is paid on specific dates on
half-yearly basis. These securities are available in wide range of maturity dates, from
short dated (less than one year) to long dated (upto twenty years).
Debentures: Bonds issued by a company bearing a fixed rate of interest usually
payable half yearly on specific dates and principal amount repayable on particular
date on redemption of the debentures. Debentures are normally secured/ charged
against the asset of the company in favour of debenture holder.
Bond: A negotiable certificate evidencing indebtedness. It is normally unsecured. A
debt security is generally issued by a company, municipality or government agency.
A bond investor lends money to the issuer and in exchange, the issuer promises to
repay the loan amount on a specified maturity date. The issuer usually pays the
bond holder periodic interest payments over the life of the loan. The various types of
Bonds are as follows Zero Coupon Bond: Bond issued at a discount and repaid at a face value. No
periodic interest is paid. The difference between the issue price and redemption
price represents the return to the holder. The buyer of these bonds receives only one
payment, at the maturity of the bond.
Convertible Bond: A bond giving the investor the option to convert the bond into
equity at a fixed conversion price.
Commercial Paper: A short term promise to repay a fixed amount that is placed on
the market either directly or through a specialized intermediary. It is usually issued
by companies with a high credit standing in the form of a promissory note
redeemable at par to the holder on maturity and therefore, doesnt require any
guarantee. Commercial paper is a money market instrument issued normally for a
tenure of 90 days.
Treasury Bills: Short-term (up to 91 days) bearer discount security issued by the
Government as a means of financing its cash requirements.

2. SEBI
Security Exchange Board of India
SEBI & Its Role In Secondary Market
The SEBI is the regulatory authority established under Section 3 of SEBI Act 1992 to
protect the interests of the investors in securities and to promote the development of, and
to regulate, the securities market and for matters connected therewith and incidental
thereto.
Securities and Exchange Board of India constituted under the Resolution of the
Government of India in the Department of Economic Affairs No.1 (44)SE/86, dated the
12th day of April, 1988;
The Board shall consist of the following members, namely:1. A Chairman
2. Two members from amongst the officials of the Ministry of the Central Government
dealing with Finance (and administration of the Companies Act, 1956;) 2 of 1934
3. One member from amongst the officials of [the Reserve Bank
4. Five other members of whom at least three shall be the whole-time members

BOMBAY STOCK EXCHANGE OF INDIA

LIMITED
Bombay Stock Exchange Limited is the oldest stock exchange in Asia with a rich
heritage. Popularly known as "BSE", it was established as "The Native Share & Stock
Brokers Association" in 1875. It is the first stock exchange in the country to obtain
permanent recognition in 1956 from the Government of India under the Securities
Contracts (Regulation) Act, 1956.
The Exchange's pivotal and pre-eminent role in the development of the Indian
capital market is widely recognized and its index, SENSEX, is tracked worldwide. Earlier an
Association of Persons (AOP), the Exchange is now a demutualised and corporative entity
incorporated under the provisions of the Companies Act, 1956, pursuant to the BSE

(Corporatization and Demutualization) Scheme, 2005 notified by the Securities and

Exchange Board of India (SEBI).
With demutualization, the trading rights and ownership rights have been de-linked
effectively addressing concerns regarding perceived and real conflicts of interest. The
Exchange is professionally managed under the overall direction of the Board of Directors.
The Board comprises eminent professionals, representatives of Trading Members
and the Managing Director of the Exchange. The Board is inclusive and is designed to
benefit from the participation of market intermediaries.
In terms of organization structure, the Board formulates larger policy issues and
exercises over-all control. The committees constituted by the Board are broad-based. The
day-to-day operations of the Exchange are managed by the Managing Director and a
management team of professionals.
The Exchange has a nation-wide reach with a presence in 417 cities and towns of
India. The systems and processes of the Exchange are designed to safeguard market
integrity and enhance transparency in operations. During the year 2004-2005, the trading
volumes on the Exchange showed robust growth.
The Exchange provides an efficient and transparent market for trading in equity,
debt instruments and derivatives. The BSE's On Line Trading System (BOLT) is a
proprietary system of the Exchange and is BS 7799-2-2002 certified. The surveillance and
clearing & settlement functions of the Exchange are ISO 9001:2000 certified.

Bombay Stock Exchange Limited (BSE) which was founded in 1875 with six brokers
has now grown into a giant institution with over 874 registered Broker-Members spread
over 380 cities across the country. Today, BSE's Wide Area Network (WAN) connecting
over 8000 BSE Online Trading (BOLT) System Trader Work Stations (TWS) is one of the
largest of its kind in the country.
With a view to provide efficient and integrated services to the investing public
through the members and their associates in the operations pertaining to the Exchange,
Bombay Stock Exchange Limited (BSE) has set up a unique Member Services and
Development to attend to the problems of the Broker-Members.
Member Services and Development Department is the single point interface for
interacting with the Exchange Administration to address to Members' issues. The
Department takes care of various problems and constraints faced by the Members in
various products such as Cash, Derivatives, Internet Trading, and Processes such as

Trading, Technology, Clearing and Settlement, Surveillance and Inspection, Membership,

Training, Corporate Information, etc.

COMMODITY EXCHANGES
There are three categories:

NCDEX
MCX

NMCE
A brief description of commodity exchanges are those which trade in particular
commodities, neglecting the trade of securities, stock index futures and options
etc.

In the middle of 19th century in the United States, businessmen began organizing
market forums to make the buying and selling of commodities easier. These central
marketplaces provided a place for buyers and sellers to meet, set quality and quantity
standards, and establish
rules of business.

Agricultural commodities were mostly traded but as long as there are buyers and
sellers, any commodity can be traded. In 1872, a group of Manhattan dairy merchants got
together to bring chaotic condition in New York market to a system in terms of storage,
pricing, and transfer of agricultural
products.

In 1933, during the Great Depression, the Commodity Exchange, Inc., was
established in New York through the merger of four small exchanges the National Metal
Exchange, the Rubber Exchange of New York, the National Raw Silk Exchange, and the
New York Hide Exchange.

The major commodity markets are in the United Kingdom and in the USA. In India
there are 25 recognized future exchanges, of which there are three national level multicommodity exchanges. After a gap of almost three decades, Government of India has
allowed forward transactions in commodities through Online Commodity Exchanges, a
modification of traditional business known as Adhat and Vayda Vyapar to facilitate better
risk coverage and delivery of commodities.

The three exchanges are:

1.
2.
3.

National Commodity & Derivatives Exchange Limited (NCDEX)

Multi Commodity Exchange of India Limited (MCX)
National Multi-Commodity Exchange of India Limited (NMCEIL)
All the exchanges have been set up under overall control of Forward Market
Commission
(FMC)
of
Government
of
India.
1. National Commodity & Derivatives Exchange Limited (NCDEX)

National Commodity & Derivatives Exchange Limited (NCDEX) located in Mumbai

is a public limited company incorporated on April 23, 2003 under the Companies Act, 1956
and had commenced its operations on December 15, 2003.This is the only commodity
exchange in the country promoted by national level institutions.

It is promoted by ICICI Bank Limited, Life Insurance Corporation of India (LIC),

National Bank for Agriculture and Rural Development (NABARD) and National Stock
Exchange of India Limited (NSE).

It is a professionally managed online multi commodity exchange. NCDEX is

regulated by Forward Market Commission and is subjected to various laws of the land like
the Companies Act, Stamp Act, Contracts Act, Forward Commission (Regulation) Act and
various other legislations.

2. Multi

Commodity

Exchange of India Limited(MCX)

Headquartered in Mumbai Multi Commodity Exchange of India Limited (MCX), is

an independent and de-mutulised exchange with a permanent recognition from
Government of India. Key shareholders of MCX are Financial Technologies (India) Ltd.,
State Bank of India, Union Bank of India, Corporation Bank, Bank of India and Canara
Bank. MCX facilitates online trading, clearing and settlement operations for commodity
futures markets across the country.

MCX started offering trade in November 2003 and has built strategic alliances with
Bombay Bullion Association, Bombay Metal Exchange, Solvent Extractors Association of
India, Pulses Importers Association and Shetkari Sanghatana.

4. National Multi-Commodity Exchange of India Limited (NMCEIL)

National Multi Commodity Exchange of India Limited (NMCEIL) is the first demutualzed, Electronic Multi-Commodity Exchange in India. On 25th July, 2001, it was
granted approval by the Government to organize trading in the edible oil complex.

It has operationalised from November 26, 2002. It is being supported by Central

Warehousing Corporation Ltd., Gujarat State Agricultural Marketing Board and Neptune
Overseas Limited. It got its recognition in October 2000.

Commodity exchange in India plays an important role where the prices of any
commodity are not fixed, in an organized way. Earlier only the buyer of produce and its
seller in the market judged upon the prices. Others never had a say.
Today, commodity exchanges are purely speculative in nature. Before discovering
the price, they reach to the producers, end-users, and even the retail investors, at a
grassroots level. It brings a price transparency and risk management in the vital market.

A big difference between a typical auction, where a single auctioneer announces the
bids, and the Exchange is that people are not only competing to buy but also to sell.

By Exchange rules and by law, no one can bid under a higher bid, and no one can
offer to sell higher than someone elses lower offer. That keeps the market as efficient as
possible, and keeps the traders on their toes to make sure no one gets the purchase or sale
before they do.

NSE - A New ideology

The broad objective for which the exchange was set up has made it to play a
leading role in enlarging the scope of market reforms in securities market in India. During
last one decade it has been playing the role of a catalytic agent in reforming the markets in
terms of market microstructure and in evolving the best market practices keeping in mind
the investors.

The Exchange is set up on a de-mutual zed model wherein the ownership,

management and trading rights are in the hands of three different sets of people. This has
completely eliminated any conflict of interest. This has helped NSE to aggressively pursue
policies and practices within a public interest framework.

NSE's nationwide, automated trading system has helped in shifting the trading
platform from the trading hall in the premises of the exchange to the computer terminals
at the premises of the trading members located at different geographical locations in the
country and subsequently to the personal computers in the homes of investors and even to
hand held portable devices for the mobile investors. It has been encouraging corporation
of membership in securities market.

It has also proved to be instrumental in ushering in scrip less trading and

providing settlement guarantee for all trades executed on the Exchange. Settlement risks
have also been eliminated with NSE's innovative endeavors in the area of clearing and
settlement viz., establishment of the clearing corporation (NSCCL), setting up a
settlement guarantee fund (SGF), reduction of settlement cycle, implementing on-line,
real-time risk management systems, dematerialization and electronic transfer of securities
to name few of them.

As a consequence, the market today uses state-of-the-art information technology to

provide an efficient and transparent trading, clearing and settlement mechanism. In order
to take care of investors interest, it has also created an investors protection fund (IPF),
that would help investors who have incurred financial loss due to default of brokers.

Ownership and Management the NSE

The day-to-day management of the Exchange is delegated to the Managing Director

and CEO who is supported by a team of professional staff. Therefore, though the role of
trading members at NSE is to the extent of providing only trading services to the
investors, the Exchange involves trading members in the process of consultation and
participation in vital inputs towards decision making.

Market Segments and Products

NSE provides an electronic trading platform for of all types of securities for
investors under one roof - Equity, Corporate Debt, Central and State Government
Securities, T-Bills, Commercial Paper, Certificate of Deposits (CDs), Warrants, Mutual
Funds units, Exchange Traded Funds, Derivatives like Index Futures, Index Options, Stock
Futures, Stock Options, Futures on Interest Rates etc., which makes it one of the few
exchanges in the world providing trading facility for all types of securities on a single
exchange.

The Exchange provides trading in 3 different segments viz.

Wholesale debt market (WDM)

Capital market (CM) segment and
The futures & options (F&O) segment.

4. NSE FAMILY

NSCCL

National Securities Clearing Corporation Ltd. (NSCCL), a wholly-owned subsidiary

of NSE, was incorporated in August 1995 and commenced clearing operations in April
1996. It was the first clearing corporation in the country to provide notation/settlement
guarantee that revolutionized the entire concept of settlement system in India. It was set
up to bring and 9 sustain confidence in clearing and settlement of securities; to promote
and maintain short and consistent settlement cycles; to provide counter-party risk
guarantee, and to operate a tight risk containment system. It carries out the clearing and
settlement of the trades executed in the equities and derivatives segments of the NSE.

IISL

India Index Services and Products Limited (IISL), a joint venture of NSE and Credit
Rating Information Services of India Limited (CRISIL), was set up in May 1998 to provide
indices and index services. It has a consulting and licensing agreement with Standard and
Poor's (S&P), the world's leading provider of invest able equity indices, for co-branding
equity indices. IISL pools the index development efforts of NSE and CRISIL into a
coordinated whole. It is India's first specialized company which focuses upon the index as a
core product. It provides a broad range of products and professional index services. It
maintains over 70 equity indices comprising broad-based benchmark indices, sectoral
indices and customized indices. Many investment and risk management products based on
IISL indices have been developed in the recent past. These include index based derivatives
on NSE, a number of index funds and India's first exchange traded fund.

NSDL

Prior to trading in a dematerialized environment, settlement of trades required

moving the securities physically from the seller to the ultimate buyer, through the seller's
broker and buyer's broker, which involved lot of time and the risk of delay somewhere
along the chain.

NSE.IT

NSE.IT Limited, a 100% technology subsidiary of NSE, was incorporated in October

1999 to provide thrust to NSEs technology edge, concomitant with its overall goal of
harnessing latest technology for optimum business use.

It provides the securities industry with technology that ensures transparency and
efficiency in the trading, clearing and risk management systems. Additionally, NSE.IT
provides consultancy services in the areas of data warehousing, internet and business
continuity plans.

NCDEX

NSE joined hand with other financial institutions in India viz., ICICI Bank,
NABARD, LIC, PNB, CRISIL, Canara Bank and IFFCO to promote the NCDEX which
provide a platform for market participants to trade in wide spectrum of commodity
derivatives. Currently NCDEX facilitates trading of 37 agro based commodities, 1 base
metal and 2 precious metal.

5. LISTING OF SECURITIES
The stocks, bonds and other securities issued by issuers require listing for providing
liquidity to investors. Listing means formal admission of a security to the trading platform
of the Exchange. It provides liquidity to investors without compromising the need of the
issuer for capital and ensures effective monitoring of conduct of the issuer and trading of
the securities in the interest of investors. The issuer wishing to have trading privileges for
its securities satisfies listing requirements prescribed in the relevant statutes and in the
listing regulations of the Exchange. It also agrees to pay the listing fees and comply with
listing requirements on a continuous basis. All the issuers who list their securities have to
satisfy the corporate governance requirement framed by regulators.

6. MEMBERSHIP ADMINISTRATION

The trading in NSE has a three tier structure-the trading platform provided by the
Exchange, the broking and intermediary services and the investing community. The trading
members have been provided exclusive rights to trade subject to their continuously
fulfilling the obligation under the Rules, Regulations, Byelaws, Circulars, etc. of the
Exchange. The trading members are subject to its regulatory discipline. Any entity can
become a trading member by complying with the prescribed eligibility criteria and exit by
surrendering trading membership. There are no entry/exit barriers to trading membership.

7. INVESTOR GRIEVANCES
Investors are the backbone of the securities market. Protection of their interests is
paramount for NSE. In furtherance of their interests, NSE has put in place systems to
ensure availability of adequate, up-to-date and correct information to investors to enable
them to take informed decisions. It ensures that critical and price-sensitive information
reaching the exchange is made available to all classes of investor at the same point of time.

Such price-sensitive information as bonus announcements, mergers, new line of

business, etc. received from the companies is disseminated to all the market participants
through the network of NSE terminals all over India. Action is initiated by the Exchange
whenever any kind of price sensitive information is not provided to the Exchange at the
prescribed time by companies listed on the Exchange.

8. DEMATERIALISATION & REMATERIALISATION

DEMATERIALISATION

Meaning

Dematerialisation is the process by which physical certificates of an investor are

converted to an equivalent number of securities in electronic form and credited into the
investor's account with his/her DP.

Dematerialising securities (physical holding into electronic holding)

In order to dematerialise physical securities one has to fill in a DRF (Demat Request
Form) which is available with the DP and submit the same along with physical certificates
one wishes to dematerialise. Separate DRF has to be filled for each ISIN Number. The
complete process of dematerialisation is outlined below:

Surrender certificates for dematerialisation to your depository participant.

Depository participant intimates Depository of the request through the system.
Depository participant submits the certificates to the registrar of the Issuer Company.
Registrar confirms the dematerialisation request from depository.

After dematerialising the certificates, Registrar updates accounts and informs

depository of the completion of dematerialisation.
Depository updates its accounts and informs the depository participant.
Depository participant updates the demat account of the investor.

REMATERIALISATION

The process of re-materialisation is used to convert the electronic holding into physical
holdings. If one wishes to get back his securities in the physical form one has to fill in the
RRF (Re-mat Request Form) and request his DP for re-materialisation of the balances in
his securities account. The process of re-materialisation is outlined below:

One makes a request for dematerialisation.

Depository participant intimates depository of the request through the system.
Depository confirms dematerialisation request to the registrar.
Registrar updates accounts and prints certificates.
Depository updates accounts and downloads details to depository participant.
Registrar dispatches certificates to investor.

9. Broker & Sub-Broker

Broker

A broker is a member of a recognized stock exchange, who is permitted to do trades

on the screen-based trading system of different stock exchanges. He is enrolled as a
member with the concerned exchange and is registered with SEBI.

Sub Broker
A sub broker is a person who is registered with SEBI as such and is affiliated to a
member of a recognized stock exchange.

10. PAY-IN DAY AND PAY- OUT DAY

Pay in day is the day when the brokers shall make payment or delivery of securities
to the exchange. Pay out day is the day when the exchange makes payment or delivery of
securities to the broker.

Settlement cycle is on T+2 rolling settlement basis w.e.f. April 01, 2003. The
exchanges have to ensure that the pay out of funds and securities to the clients is done by
the broker within 24 hours of the payout. The Exchanges will have to issue press release
immediately after pay out.

11. Auction
What is an Auction?
The Exchange purchases the requisite quantity in the Auction Market and gives
them to the buying trading member. The shortages are met through auction process and
the difference in price indicated in contract note and price received through auction is
paid by member to the Exchange, which is then liable to be recovered from the client.

Major Players of the Industry

S. S. Kantilal Ishwarlal Securities Pvt. Ltd. (sharekhan.com):

Sharekhan, Indias leading stock broker is the retail arm of SSKI, and offers you
depository services and trade execution facilities for equities, derivatives and commodities
backed with investment advice tempered by decades of broking experience. A research
and analysis team is constantly working to track performance and trends. Thats why
Sharekhan has the trading products, which are having one of the highest success rates in
the industry. Sharekhan is having 240 share shops in 110 cities; the largest chain of retail
share shops in India is of Sharekhan.
In future, Sharekhan is planning to enter in Mutual funds, Insurance sector and
banking sector to expand beyond the market currently covered by it. And it has started MF
(Mutual Funds) on priority basis but wants to grow in it.

ICICI Web Trade Ltd. (ICICIdirect.com)

ICICIdirect.com was the first entrant into e-broking. ICICdirect.com provides the 3in-1 to the users which ties in their saving bank account and their Demat account to their
brokerage account electronically. This integration ensures that money is transferred
to/from their bank account and the shares are transferred from/to their Demat account
automatically without writing any cheques or transfer instructions while carrying out their
trades in shares.

ICICIdirect.com has the option of trading in shares in cash, margin or spot

segments. An investor can also invest in 14 Mutual Funds (Prudential ICICI MF, Franklin
Templeton India MF, Alliance Capital MF, JM MF, Birla Sun Life MF, Sundaram MF,
IL&FS MF, Principal MF, HDFC MF, Standard Chartered MF, Reliance Capital MF, Kotak
Mahindra MF, TATA MF and DSP MERRILL LYNCH MF) through their trading account.

5Paisa.com:
5paisa is the trade name of India Infoline Securities Private Limited (5paisa),
member of National Stock Exchange and The Stock Exchange, Mumbai. 5paisa is a wholly
owned subsidiary of India Infoline Ltd, Indias leading and most popular finance and
investment portal. 5paisa has emerged as one of leading players in e-broking space in
India.

The companys brokerage is one of the lowest in the industry. It also provides the
research on commodities. Investors can benefit from its analysis and advice available at
the click of the mouse. For those who prefer to trade the traditional way, India Infoline
investor points are available across the country.

India Infoline was founded by a group of professionals in 1995. Its institutional

investors include Intel Capital, one of the leading technology companies in the world
promoted by the UK government, ICICI, TDA and Reeshanar. The company offers a slew
of products such as stock and derivatives broking, commodities broking and mutual
funds.

Kotak Securities Limited (kotakstreet.com)

Kotak Securities Ltd., a strategic joint venture between Kotak Mahindra Bank and
Goldman Sachs (holding 25% - one of the worlds leading investment banks and brokerage
firms) is Indias leading stock broking house with a market share of 5 - 6 %. Kotak
Securities Ltd. has been the largest in IPO distribution - It was ranked number One in
2003-04 as Book Running Lead Managers in public equity offerings by PRIME Database.
It has also won the Best Equity House Award from Finance Asia - April 2004.

Kotak Securities Ltd is also a depository participant with National Securities

Depository Limited (NSDL) and Central Depository Services Limited (CDSL) providing
dual benefit services wherein the investors can use the brokerage services of the company
for executing the transactions and the depository services for settling them. The company
has 42 branches servicing around 1, 00,000 customers. Kotakstreet.com the online
division of Kotak Securities Limited offers Internet Broking services and also online IPO
and Mutual Fund Investments.
Kotak Securities Limited manages assets over 1700 crores under Portfolio
Management Services (PMS) which is mainly to the high end of the market. Kotak
Securities Limited has newly launched Kotak Infinity as a distinct discretionary Portfolio
Management Service which looks into the middle end of the market.

India Bulls
Indiabulls is India's leading retail financial services company with 77 locations
spread across 64 cities. Its size and strong balance sheet allows providing varied products
and services at very attractive prices, our over 750 Client Relationship Managers are
dedicated to serving your unique needs.
Indiabulls is lead by a highly regarded management team that has invested crores of
rupees into a world class Infrastructure that provides real-time service & 24/7 access to all
information and products. The Indiabulls Professional Network offers real-time prices,
detailed data and news, intelligent analytics, and electronic trading capabilities, right at
your finger-tips. This powerful technology is complemented by our knowledgeable and
customer focused Relationship Managers.
Indiabulls offers a full range of financial services and products ranging from
Equities, Derivatives, Demat services and Insurance to enhance wealth and to achieve the
financial goals.

Motilal Oswal Securities Ltd. (MOSt):

One of the top-3 stock-broking houses in India, with a dominant position in both
institutional and retail broking, MOSt is amongst the best-capitalized firms in the broking
industry in terms of net worth. MOSt was founded in 1987 as a small sub-broking unit, with just
two people running the show. Focus on customer-first-attitude, ethical and transparent business
practices, respect for professionalism, research-based value investing and implementation of
cutting-edge technology have enabled it to blossom into a thousand-member team.

The institutional business unit has relationships with several leading foreign institutional
investors (FIIs) in the US, UK, Hong Kong and Singapore. In a recent media report MOSt was
rated as one of the top-10 brokers in terms of business transacted for FIIs.
The retail business unit provides equity investment solutions to more than 50,000
investors through 270 outlets spanning 150 cities and 22 states. MOSt provides Advice-Based
Broking, Portfolio Management Services (PMS), E-Broking Services, Depository Services,
Commodities Trading, and IPO and Mutual Fund Investment Advisory Services. Its Value PMS
Scheme gave a 160% post-tax return for the year ended March 2004.
In Asia Money Brokers Poll 2003 MOSt has been rated as the Best Domestic Research
House- Mega Funds ,while in 2000 and 2002 it has been rated as the Best Domestic Equity
Research House and Second best amongst Indian Brokerage firms respectively .

HDFC Securities Ltd (HDFCsec)

HDFCsec is a brand brought to you by HDFC Securities Ltd, which has been
promoted by the HDFC Bank & HDFC with the objective of providing the diverse
customer base of the HDFC Group and other investors a capability to transact in the Stock
Exchanges & other financial market transactions. The services comprise online buying and
selling of equity shares on the National Stock Exchange (NSE). Buying and selling of select
corporate debt and government securities on the NSE would be introduced in a
subsequent phase. In a few months, they will also start offering the following online
trading services on the BSE and NSE:

1. Buying and selling of shares on the BSE

2. Arbitrage between NSE & BSE
3. Trading in Derivatives on the NSE
4. Margin trading products.

They are also planning to include buying and selling of Mutual Funds, IPO subscriptions,
Right issues, purchase of Insurance policies and asset financing.
Different types of company involved in online trading:

HDFC SECURITIES LIMITED

ICICI WEB TRADE LIMITED
KOTAK STREET LIMITED
FIVE PAISA SECURITIES LIMITED
INDIABULLS SECURITIES LIMITED
MONEYPORE SECURITIES LIMITED
SHARE KHAN SECURITIES LIMITED
GEOJIT SECURITIES
OTHERS.

5PAISA.COM

Trade in BSE,NSE
Trade in multicommodity exchange
Trade in national commodity exchange
Access to research and technical analysis
V-SAT, internet connectivity
Online back office, software & support
Liberal deposit, margin & exposure terms

KOTAK STREET.COM

Easy equities
Easy mutual fund
Derivatives
Research on sms
Margin finance

 Call & trade

Easy IPO over phones

INDIABULLS.COM
Trade in equity
Trading through terminal
Trade in derivatives
Back-up facility to place trades on direct phone lines

Speed trade plus

Offline support through messenger

Access research and technical research
Own transaction engine
High transaction speed

HDFC SECURITIES.COM

 Trading on NSE
Mutual fund
Online back office, software & support
Live quotes update system

SHAREKHAN.COM
Classic account
Trading on NSE
Speed trade
Speed trade plus
Single screen trading terminal
Real-time streaming quotes
Live tic-by-tic intra-day charting
Instant order/trade confirmations in the same window
Hot keys similar to a brokers terminal
Back-up facility to place trades on direct phone lines

SWOT Analysis
Introduction

SWOT
Analysis is
a strategic
planning method
used
to
evaluate
the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in
a business venture. It involves specifying the objective of the business venture or project
and identifying the internal and external factors that are favorable and unfavorable to
achieving that objective.
A SWOT analysis must first start with defining a desired end state or objective. A
SWOT analysis may be incorporated into the strategic planning model. An example of a
strategic planning technique that incorporates an objective-driven SWOT analysis
is Strategic Creative Analysis (SCAN). Strategic Planning, including SWOT and SCAN
analysis, has been the subject of much research.
Strengths: attributes of the person or company that are helpful to achieving
the objective.
Weaknesses: attributes of the person or company that are harmful to
achieving the objective.
Opportunities: external conditions that are helpful to achieving the objective.
Threats: external conditions which could do damage to the business's
performance.

Identification of SWOT is essential because subsequent steps in the process of

planning for achievement of the selected objective may be derived from the SWOT.
First, the decision makers have to determine whether the objective is attainable, given
the SWOT. If the objective is NOT attainable a different objective must be selected and
the process repeated.
The SWOT analysis is often used in academia to highlight and identify strengths,
weaknesses, opportunities and threats. It is particularly helpful in identifying areas
for development.

Use of SWOT Analysis

The usefulness of SWOT analysis is not limited to profit-seeking organizations.

SWOT analysis may be used in any decision-making situation when a desired endstate (objective) has been defined. Examples include: non-profit organizations,
governmental units, and individuals. SWOT analysis may also be used in pre-crisis
planning and preventive crisis management. SWOT analysis may also be used in
creating a recommendation during a viability study.

SWOT-landscape analysis

The SWOT-landscape grabs different managerial situations by visualizing and

foreseeing the dynamic performance of comparable objects according to findings by
Brendan Kitts, Leif Edvinsson and Tord Beding (2000).

Changes in relative performance are continuously identified. Projects (or other units
of measurements) that could be potential risk or opportunity objects are highlighted.
SWOT-landscape also indicates which underlying strength/weakness factors that
have had or likely will have highest influence in the context of value in use

SWOT Analysis of angel broking ltd.

During this training at ANGEL BROKING LTD, we had come to know the Strengths
Weaknesses Opportunities Threats for the company and it is very useful for a
company to analyze them. Therefore, the SWOT analysis is presented here and the
suggestions for maintaining strengths and removing weaknesses are explained.
Strengths:

Well-maintained infrastructure.
Dedicated, Intelligent and Loyal staff.
On-line Trading products.
Lowest brokerage and other charges w.r.t. Competitors.
The best investment advice correct up to 70-90 % through dedicated
Research and reports.
Wide product range to enable the clients to choose the best alternative.
One of the best DPs in India.
A positive image in the existing clients.
Large retail customer base
Best online software Odin which within 5 second
management information system is quite good as compare to competitors
Weaknesses:
Less awareness in the market.

 Time consuming process for account opening, resolving the problems of the
customers, etc.
Service quality is not maintained accordingly how they are promoted.
Concentrate more on HNI (High Net-worth Individual) client
employee attrition rate is high especially B.D.O. & Dealers
all branches are not working in a synchronized way
Opportunities:
Large primary market to sit as a book runner for the other companies just like
Kotak securities ltd. that runs the books of share holdings for many companies
Slope of stock market towards delivery based transactions.
there are only 2 % to 3% peoples are investing in share market so huge
opportunities are there
Large potential market for delivery and intra-day transactions.
Open interest of the people to enter in stock market for investing.
Attract the customers who are dissatisfied with other brokers & DPs.
An indirect opportunity generated by the market from its bullishness.
Threats:
Decreasing rates of brokerage in the market.
Increasing competition against other brokers & DPs.
Poor marketing activities for making the company known among the

customers

A threat of loosing clients for any kind of weakness of the company.

Indirect threat from instable stock market, i.e., low/no profit of Sharekhans
clients would lead them to go for other broker/DP.

Past Performance of Angel Broking Ltd

June, 2008
August, 2008

Major Volume Driver for 2007

Crossed 5000000 Trading Accounts

November, 2007

Major Volume Driver for 2007

March, 2007

Crossed 2000000 Trading Accounts

December, 2006

Created 2500 Business Associates

October, 2006 Major Volume Driver for 2006

September 2006
July, 2006

Launched Mutual Fund and IPO Business

Launched the PMS Function

March, 2006

Crossed 100000 Trading Account

October, 2005 Major Volume Driver for 2005

September, 2004

Launched Online Trading Platform

April, 2004

Initiated Commodities Broking Division

April, 2003

First Publish Research Report

November, 2002

Angels First Investor Seminar

March, 2002

Developed Web-Enabled Back Office Software

November, 1998

Angel Capital & Debt Market Ltd. Incorporated

December, 1997

Angel Broking Ltd. Incorporated

Products & Services

What activities are we

in?

Advice-based broking in Equities/

Commodities/ Derivatives/ Currency

Research & Advisory Products in

Equities/ Commodities/ Derivatives

E-Broking Services

Wealth Management Services

Depository Services

Our intensive research process

Personal Finance
Industry wise specialized team
Bottom-up approach: Identifying under valued stock with sound management
Top -down Approach: identifying promising sector & then companies with good
valuations
Company visits and interaction with top & second line manager
Thorough analysis of companys financial data , promise vs performance & industry
trends
Estimates for future years earnings based on industry trends & company business
plans
Our Research & Advisory Products

Market outlook
Provides price-sensitive information just before opening bell and analysis its impact
on the market in terms of :
Key corporate development
Policy announcement
Geo-political news & views

Technical Analysis
Analysis trading patterns and a view on the market position of key stocks/sectors for
the next trading session
Short term (1-5 days) & medium term (10-20 days) views
Tracks individual scrip, the sensex & Nifty & other indices
Derivatives analysis report

FII activity in the F&O Segment

Change in open market
Put call ratio
Cost of carrying cost
Index- based derivative products

E-Broking

Unique Online Trading Products Customized to suit different investment/Trading needs

Angel Investor

User-friendly browser for investors

Easy online trading platform
Works in proxy and firewall system set up
Integrated Back office: Access account information anytime, anywhere
Streaming quotes
Refresh static rates when required
Multiple exchanges on single screen

 Online fund transfer facility

Angel Trade

User-friendly browser-based online trading platform.

Streaming quotes
Can be used in proxy as well as firewall environments.
Advantage to access your account from anywhere.

Angel Diet

Application-based platform for day traders

Hi-speed trading terminal on your desktop
Streaming quotes for real time rate updates
Multiple exchanges on single screen
Online fund transfer facility
Integrated Back office: Access account information anytime, anywhere

Angel Anywhere

Application-based platform for day traders

Trading based on historical charts and technical tools
Streaming quotes for real time rate updates
Online fund transfer facility
Integrated Back office: Access account information anytime, anywhere

Back-Office
Online client details includes

Ledger Balance
Cash Deposits with Angel
Securities Holdings
Charges levied/Paid in the clients account
Last auction/close-outs offered
DP Holding for the last 3 transactions

Portfolio Management Services

Managed by our prominent Fund Manager who are regularly fetched by TV media
for their views on stocks
Understanding clients risk & return profile

Offering the right blend of sector and stock exposures

Giving dedicated investement Advisors
Giving a choice of different schemes to suit every individual investor preferences
Catering to individuals, HUFs, Corporate, NRIs, Trusts

Angel Currency Future

Comprehensive Coverage on currencies
Reports covering in-depth fundamentals of the currencies
Latest economics data releases with their likely impact, along with Technical
Levels
Comprehensive reports on currencies ideally suited for any investors / Trader

Depository Services

No physical instruction required for the clients sell obligations

Lowest transaction charges in the country
Acceptances & execution of instruction on fax
A combined monthly Bill Transaction. Holding cum Ledger statement
Efficient Pledge Mechanism

Angel gold

Personalized investment advisory

Portfolio Restructuring and continuous monitoring
Guidance experienced research team
Periodic Group meeting with investors .

Pre-Paid Brokerage

Zero Account opening charges

Attractive Brokerage rates
Free DP AMC for 1 year
Assured gifts worth thousands with every account
Easy and fast recharge

 Free Financial investment Application with every account

Specialized Products
Margin Funding

facility to allow clients to take higher exposer

instant liquidity for clients
margin is deposited in cash as well as collaterals
Enabling clients grab Earning Opportunity.

Value Added Services

NRI Services

NRI Services Desk for personalized Assistance.

Dedicated offline Equity Dealing Desk.
Online Equity dealing Desk
NRI Investment Advisory Desk
PAN Card Assistance
Support for banking-PIS Accounts
Portfolio Management, Mutual Fund, IPO services.

Insurance

Angel Offers

Products to meet the objectives of risk coverage .investment and tax planning.
Assessment of your insurance needs after proper risk profiling.
A wide array of individual life cover plans to meet your protection, savings,and
retirement needs.

Mutual funds

An integrated platform for online /offline mutual funds

Tie-up with all major AMCS
Dedicate Relationship Manager for Business Partners
Exclusive MF Research Reports by angel{daily,weekly,monthly,mutual fund
reports}.

Loans, IPO and fixed Deposits

Products distributed by angel include

Unsecured loans
personal/business loans against properties
Secured loans.
home loans/loan against properties
loan against securities/gold, IPO-Distribution , Advisory and help desk , Fixed
Deposits ,NHB term Deposits.

Risk management at angel

An efficient risk management system which enables the customer to effectively

monitor the positions.
The client report can be accessed from any place and gives categorical display of the
ledger balance deposits and holdings.

Data Analysis

The first and simplest analytical step in data analysis is to describe the data for
example, summarize its statistical attributes (such as means and standard deviations),
visually review it using charts and graphs, and look at the distribution of values of the
fields in your data. But data description alone cannot provide an action plan. You must
build a predictive model based on patterns determined from known results, then test that

model on results outside the original sample. A good model should never be confused with
reality (you know a road map isnt a perfect representation of the actual road), but it can be
a useful guide to understanding your business.

Data analysis can be used for both classification and regression problems. In
classification problems youre predicting what category something will fall into for
example, whether a person will be a good credit risk or not, or which of several offers
someone is most likely to accept. In regression problems youre predicting a number such
as the probability that a person will respond to an offer.

Indian Brokerage Industry

Introduction

With the fall in the turnover in the Equity segment by over 30 per cent since April,
revenue of broking houses have taken a major hit. Compared with the previous few
quarters, the net profits of many leading broking houses have nearly halved despite the
revenues declining marginally. The results posted by broking firms have been extremely
poor in line with the market conditions, having reported either a fall in net profit or, at
best, only a marginal rise in their bottom line for the period. The worst-hit seems to be the
broking firms which are facing challenges in their declining business apart from stringent
reluctance of financial institutions to lend them money for working capital. Broking firms
had an excellent rally in the previous fiscal and thus had extravagant plans of increasing
their foothold across nation, and some of them even globally. With the current financial
meltdown worldwide, most of them have not only put their expansion plans on hold but
also are slowing down in current businesses. These firms were on a growth spree, adding
branches and people across cities. The augmentation was also driven by the infusion of
funds by the big private equity and foreign players wanting to invest in these broking
outfits. The smaller broking outfits took a greater hit, as they struggled to meet their
margin requirements due to liquidity constraints. Recently, trading terminals of 95 broker
members were deactivated in the F&O segment and 29 deactivations occurred in the cash
segment. In September, the terminals of 36 broker members were deactivated whereas in
August it was only 11. There were 885 active trading members in the F&O segment and

984 in the cash segment on NSE in October. The market scene appears bleak for the
securities firms. Quite expected, these negative sentiments are reflecting in the stock
prices of broking firms. Most of them have fallen by more than 75% from their highs early
this year. After banking stocks, broking outfits have faced the brunt in the current
financial turmoil. When the macro conditions were fine, invariably stock markets did
perform well. Similarly, the downtrend in the economy is also reflected in the stock
market.

Derivative Report
0.93%, while Minify futures open interest decreased by 3.48%, as market closed at
3046.75 levels.
Nifty January future is trading at premium of 6.85 points against premium of
10.25 points in previous trading session. While February future is trading at
premium of 17.30 points.
PCR-OI is at the same levels of 1.11. Due to build up in call as well as put options.
IV of at the money option is 40.35%. Historical volatility has reduced from 56.95%
to 55.24%.

Stocks which are trading at decent positive cost of carry are RAJESHEXPO, FSL,
BINDALAGRO, IFCI and CHAMBLFERT.

Data Analysis of Customers

Different customers have the different objectives/purpose for opening the account
in Angel Broking Ltd., as per the survey done by us is as follow: -

Objective for A\C opening

No. of Customers

Commodity

Investment

137

IPO
Trading

45
245

Investment & Trading

57

Investment Trading & IPO

26

IPO & Trading

31

Investment & IPO

Others

7
39

Financial Restructuring

Angel Broking Ltd. provides the service of Financial Restructuring. As per the survey
the chart is as follows:

Findings
In are, which we ware given out of 800 clients we have mostly found that they are
not interested in the financial portfolio restructuring. We found 90.7% no interested
and 9.3% are interested in the city.
Most of the clients whom, we met Government employees, businessman, Hotels,
malls, restaurants and chaiwala also. What about their interested in trading.
Most of the clients invested in the IPO, Trading, Investment, future and options and
commodity markets. Out of 800 Most of the clients Interested in trading.

Awareness about angels new

services

No. of respondents

Online trading

300

Margin funding

50

PMS

100

ANGEL GOLD

30

PREPAID BROKERAGE

20

LIFE INSURANCE (BIRLA SUN

LIFE)

20

MUTUAL FUND

200

FIXED DEPOSIT

500

BOND

400

No of respondets
600
500
400
300
200
100
0

No of respondets

Limitations
Definition of perfection differs from individuals to individuals. No matter how
meticulous one is, the study that is completely based on responses from a vast variety of
people cannot be free from limitations. Though the present study aimed to achieve the
above-mentioned objectives in full earnest and accuracy, it was hampered due to certain
limitations. Some of the limitations of this study may be summarized as follows: -

 Selection of the people who are under consideration as sample for the study may not
be the best sample selected.
Sample size was limited due to the limited period allocated for the

survey.

The selection of people to cover the various types of commodity trading ranging
from agro products to energy and metals like gold and silver was tedious and time
consuming.
Getting accurate responses from the respondents due to their inherent Problems,
personality traits and mood fluctuations was a very difficult task.
Some respondents had to be re-contacted as per their convenience of time.
Some of the area in which the survey is carried out was very un hygienic and over
crowded.
Some data of customer is not proper. Like their contact number & address.

Suggestion:

From the above chart we can see that various customer are about online
trading, on the other hand few people aware about angel gold and its prepaid brokerage
services.

Company should give focus on online customer and try to give more information
about angel gold and prepaid to these existing clients and create interest among them to
take advantage of these new services.