SUBMITTED BY
SHIKHAR VERMA
MBA-1ST YEAR
ROLL NO->A-26
TO
Reliance group
The Reliance Group, founded by Dhirubhai H. Ambani (1932-2002), is India's largest private
sector enterprise, with businesses in the energy and materials value chain. Group's annual
revenues are in excess of US$ 30 billion. The flagship company, Reliance Industries Limited, is
a Fortune Global 500 company and is the largest private sector company in India.
Backward vertical integration has been the cornerstone of the evolution and growth of Reliance.
Starting with textiles in the late seventies, Reliance pursued a strategy of backward vertical
integration - in polyester, fibre intermediates, plastics, petrochemicals, petroleum refining and oil
and gas exploration and production - to be fully integrated along the materials and energy value
chain.
The Group's activities span exploration and production of oil and gas, petroleum refining and
marketing, petrochemicals (polyester, fibre intermediates, plastics and chemicals), textiles, retail
and special economic zones.
Reliance enjoys global leadership in its businesses, being the largest polyester yarn and fibre
producer in the world and among the top five to ten producers in the world in major
petrochemical products.
Major Group Companies are Reliance Industries Limited (including main subsidiary Reliance
Retail Limited) and Reliance Industrial Infrastructure Limited
THERE COMMITMENTS
Growth through Commitments
We care about
Quality
Research & Development
Health, Safety & Environment
Human Resource Development
Energy Conservation
Corporate Citizenship
Reliance believes that any business conduct can be ethical only when it rests on the nine
core values of Honesty, Integrity, Respect, Fairness, Purposefulness, Trust,
Responsibility, Citizenship and Caring.
The essence of these commitments is that each employee conducts the company's
business with integrity, in compliance with applicable laws, and in a manner that
excludes considerations of personal advantage.
We do not lose sight of these values under any circumstances, regardless of the goals we
have to achieve. To us, the means are as important as the ends.
For Reliance…
Growth is care for good health
Reliance's occupational health centers carry out pre-employment and periodic medical
checkups as well as other routine preventive services. Specialised tests like biological
monitoring, health risk assessment studies and audits for exposure to various materials
are also performed. Health education and awareness form an integral part of the health
care programme at Reliance
Growth is care for safety
We believe that the safety of each employee is the responsibility of the individual as well
as of the whole community of employees
Growth is care for the environment
Reliance believes that a clean environment in and around the workplace fosters health
and prosperity for the individual, the group and the larger community to which they
belong. Environmental protection is an integral part of the planning, design, construction,
operation and maintenance of all our projects.
Growth is betting on our people
Reliance builds with care a workplace that proactively fosters professional as well as
personal growth. There is freedom to explore and learn; and there are opportunities that
inspire initiative and intrinsic motivation. We believe that people must dream to achieve,
that these dreams will drive the company's excellence in all its businesses. Reliance
thinks, behaves, lives and thrives with a global mindset, encouraging every employee to
reach his / her full potential by availing opportunities that arise across the group.
Growth is thinking beyond business
As corporate citizens, we invest in social infrastructure, believing strongly that our
business strength fuels our social contributions. To this end, Reliance encourages, funds
and develops numerous education, health, human capital and infrastructure initiatives.
These initiatives are undertaken through partnerships with non-governmental
organizations, corporates and trusts.
MONETARY POLICY
Monetary policy is the process by which the government, central bank, or monetary
authority of a country controls (i) the supply of money, (ii) availability of money, and
(iii) cost of money or rate of interest, in order to attain a set of objectives oriented
towards the growth and stability of the economy.Monetary theory provides insight into
how to craft optimal monetary policy.
Monetary policy rests on the relationship between the rates of interest in an economy,
that is the price at which money can be borrowed, and the total supply of money.
Monetary policy uses a variety of tools to control one or both of these, to influence
outcomes like economic growth, inflation, exchange rates with other currencies and
unemployment. Where currency is under a monopoly of issuance, or where there is a
regulated system of issuing currency through banks which are tied to a central bank, the
monetary authority has the ability to alter the money supply and thus influence the
interest rate (in order to achieve policy goals). The beginning of monetary policy as such
comes from the late 19th century, where it was used to maintain the gold standard. A
policy is referred to as contractionary if it reduces the size of the money supply or raises
the interest rate. An expansionary policy increases the size of the money supply, or
decreases the interest rate. Furthermore, monetary policies are described as follows:
accommodative, if the interest rate set by the central monetary authority is intended to
create economic growth; neutral, if it is intended neither to create growth nor combat
inflation; or tight if intended to reduce inflation.
MONETARY BENEFITS
Direct compensation refers to monetary benefits offered and provided to employees in
return of the services they provide to the organization. The monetary benefits include
basic salary, house rent allowance, conveyance, leave travel allowance, medical
reimbursements, special allowances, bonus, Pf/Gratuity, etc. They are given at a regular
interval at a definite time.
Basic Salary
Salary is the amount received by the employee in lieu of the work done by him/her for a
certain period say a day, a week, a month, etc. It is the money an employee receives from
his/her employer by rendering his/her services.
Organizations either provide accommodations to its employees who are from different
state or country or they provide house rent allowances to its employees. This is done to
provide them social security and motivate them to work.
Conveyance
Organizations provide for cab facilities to their employees. Few organizations also
provide vehicles and petrol allowances to their employees to motivate them.
These allowances are provided to retain the best talent in the organization. The
employees are given allowances to visit any place they wish with their families. The
allowances are scaled as per the position of employee in the organization.
Medical Reimbursement
Organizations also look after the health conditions of their employees. The employees are
provided with medi-claims for them and their family members. These medi-claims
include health-insurances and treatment bills reimbursements.
Bonus
Bonus is paid to the employees during festive seasons to motivate them and provide them
the social security. The bonus amount usually amounts to one month’s salary of the
employee.
Special Allowance
Leave Policy
It is the right of employee to get adequate number of leave while working with the
organization. The organizations provide for paid leaves such as, casual leaves, medical
leaves (sick leave), and maternity leaves, statutory pay, etc.
Overtime Policy
Employees should be provided with the adequate allowances and facilities during their
overtime, if they happened to do so, such as transport facilities, overtime pay, etc.
Hospitalization
The employees should be provided allowances to get their regular check-ups, say at an
interval of one year. Even their dependents should be eligible for the medi-claims that
provide them emotional and social security.
Insurance
Organizations also provide for accidental insurance and life insurance for employees.
This gives them the emotional security and they feel themselves valued in the
organization.
Leave Travel
The employees are provided with leaves and travel allowances to go for holiday with
their families. Some organizations arrange for a tour for the employees of the
organization. This is usually done to make the employees stress free.
Retirement Benefits
Organizations provide for pension plans and other benefits for their employees which
benefits them after they retire from the organization at the prescribed age.
Holiday Homes
Organizations provide for holiday homes and guest house for their employees at different
locations. These holiday homes are usually located in hill station and other most wanted
holiday spots. The organizations make sure that the employees do not face any kind of
difficulties during their stay in the guest house.
Flexible Timings
Organizations provide for flexible timings to the employees who cannot come to work
during normal shifts due to their personal problems and valid reasons.