Indian Oil Corporation Ltd. (Indian Oil) was formed in 1964 through the merger of Indian Oil Company Ltd. (Estd. 1959) and Indian Refineries Ltd. (Estd. 1958). It is currently India's largest company by sales with a turnover of Rs. 1, 83,204 crore (US $ 41 billion) and profits of Rs. 4,915 crore (US $ 1.10 billion) for fiscal 2005. Indian Oil is also the highest ranked Indian company in the prestigious Fortune Global 500' listing, having moved up 17 places to the153rd position this year based on fiscal 2005 performance. It is also the 21st largest petroleum company in the world and the # 1 petroleum trading company among the National Oil Companies in the Asia-Pacific region. Indian Oil and its subsidiaries account for 47% of the petroleum products market share among public sector oil companies, 43.5% of the national refining capacity and 74% of the petroleum products pipeline capacity. For the year 2005-06, the Indian Oil group sold 54.6 million tonnes of petroleum products, including 2.09 million tonnes through exports. The Indian Oil Group of companies owns and operates 10 of India's 18 refineries with a combined refining capacity of 60.20 million tonnes per annum (1.2 million barrels per day). These include two refineries of subsidiary Chennai Petroleum Corporation Ltd. (CPCL) and one of Bongaigaon Refinery and Petrochemicals Limited (BRPL).
[...] Herzberg called the factors which result in job satisfaction motivators and those that simply prevented dissatisfaction hygienes The factors that lead to job satisfaction (the motivators) are: achievement recognition work itself responsibility advancement The factors which may prevent dissatisfaction (the hygienes) are: company policy and administration working conditions supervision interpersonal relations money status security Hygienes, if applied effectively, can at best prevent dissatisfaction: if applied poorly, they can result in negative feelings about the job. Motivators are those things that allow for psychological growth and development on the job. [...]
[...] Company must try and create more motivating environment, which will bring job satisfaction among the employees and which is vital for deriving maximum return on human capital. However few suggestions are put up for consideration: It has been observed that employees of lower grade are not satisfied with the superior subordinate relationship in the company; they are not satisfied with the way their superiors behave with them. The company must go for some time to time recreational activities to improve the superior subordinate relationships. [...]
[...] Advancement: Employees are eligible for consideration for promotion within the same cadre/discipline on the completion of the prescribed eligibility period and attainment of satisfactory standards in conduct and performance. Promotions are affected based on the following criteria: o performance as reflected in appraisal/confidential reports o qualifications o seniority o clearance from the vigilance and disciplinary angle Organization has its own properly designed performance and development appraisal system in place in the organization. The assessment is made on yearly basis. RESEARCH METHODOLOGY Research objective: To determine the satisfaction level of the employees at the refineries division, headquarters, Indian Oil Corporation, New Delhi. [...]
[...] Indian Oil also proposes to develop a similar refinery-cum-petrochemicals complex at Paradip on the east coast to strengthen its presence in the sector. In exploration & production Indian Oil has bagged nine blocks in the first three rounds of bids under NELP (New Exploration Licensing Policy) in India, in consortium with other companies. It has also acquired participating interest in on-shore blocks in Assam and Arunachal Pradesh region. Overseas ventures include two gas blocks in Sirte Basin of Libya, the Farsi Exploration Block in Iran and onshore farm-in arrangements in Gabon. [...]
[...] In many parts of the world, hunger is a genuine reality but we have all experienced the phenomenon of not being able to concentrate upon a job because of a growling stomach. Productivity drops prior to lunch as people transfer their thoughts from their jobs to the upcoming meal. After lunch, food it not uppermost in people's minds but perhaps rest is, as a sense of drowsiness sets in. Similarly, in almost all organizational settings, individuals juggle their needs for security ("Can I keep this with needs for esteem I do what is demanded by the job, how will my peers see me, and how will I see myself?") Given a situation where management is demanding a certain level of performance, but where group norms are to produce below these levels, all these issues are experienced. [...]
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