a project report on stress management at icici prudential

STRESS MANAGEMENT AT ICICI-PRUDENTIAL

TABLE OF CONTENTS

PARTICULARS PAGE NUMBERS

1. Executive Summary 01-02

2. Introduction 03-14

3. Need for Insurance 15-22

4. Company Profile 23-32

5. Vision-Mission 33-36

6. Products 37-43

7. Stress Management 44-61

8. Stress Management at work place 62-82

9. Findings & Analysis 83-95

10. Suggestions 96-98

11. Limitations of the study 99-100

12. Conclusion 101-102

13. Annexure 103-106

14. Bibliography 107-108

BABASAB PATIL PROJEC TREPORT ON HUMAN RESOURCE


EXECUTIVE SUMMARY



EXECUTIVE SUMMARY

Insurance is the pooling of fortuitous losses by transfer of such risk to insurers, who

agreed to provide the pecuniary benefit on their occurance, or to render service connected with

risk. It is the transfer of financial responsibility for the risk at the point of occurance and

conventionally involves the insurer in a commitment to pay. The insurance service lead to

efficient and productive allocation of capital resources, facilitate growth of trade and commerce.

Globalization will certainly increase insurance penetration and all professionals shall equip

themselves to exploit opportunities offered by this sector.

ICICI PRUDENTIAL has maintained its lead amongst the private players of life

insurance with a market share of about 39%. The biggest achievement is in pension segment,

where company introduced a slew of products and captured around 23% of the total pension

market. ICICI Prudential have a customer centric growth strategy and has taken a number of

strategies against this.

The consumers are the largest economic group in any country and the present day

business activities are because of consumers only. Thus, consumers are the pillars of the

economy. The consumers are not only the heart of marketing system, but also the controller of

marketing functions. But if the modern marketing system consumers sovereignty has become a

myth on account of the variety of problems in the process of merchandising. The study of

consumer behavior enables marketers to understand and predict consumer behavior in the

market place; It also promotes understanding of the role that consumption plays in the lives of

the individual.

This gives me an opportunity to work on with this endeavor focusing on the study of

'consumer behavior towards the insurance products' with special reference to ICICI

PRUDENTIAL. The primary objective of the study is to understand the attitude and perception

of the respondents towards insurance products.

The study gives an insight to the insurance industry. It briefly explains about the history

of life insurance sector. It also contains the organizational profile of ICICI PRUDENTIAL,

stating about its mile stones, vision, products, protection, solutions, advertising effectiveness and

finally about its marketing strategies and challenges. The study ends up with the suggestions in

order to modify the current system for a higher growth and progress.



INTRODUCTION



INTRODUCTION

LIFE INSURANCE

Life insurance is a contract providing for a payment of a sum of money to the

person assured or failing him to the person entitled to receive the same on the happening

of certain event. Uncertainty of death is inherent in human life. Ii is this risk, which

gives rise to the necessity for some form of protection against the financial loss arising

from death. Insurance substitutes this uncertainty by certainty. The objective of

insurance is normally to provide:

A Family Protection.

B Provision for old age.

INSURANCE INDUSTRY

ORIGIN OF INSURANCE

The origin of insurance dates back to the 12th century, the origin of insurance

appeared first in marine and land fields. The ideas of insurance were made in Babylonia

and India at quite an early period; the courts of Hammurabi and Mano recognized the

provision for sharing the future losses. However there is no evidence that insurance in its

present form was practiced prior to 12th century. Tracing the history of insurance to the

present day, one can easily gauge the performance of industry both collectively as an

industry as well as individually by the companies.

In earlier times, travelers by sea and land were very much exposed to risk of

losing their vessels and merchandise because piracy on the open seas and highway

robbery of caravan were common. References to similar practices are also found in

'Manab Dharma Shastra' which contained rules for sea from contracts which was

observed by traders. Insurance conceived as method of sharing of the losses embodying

the principal of co-operation existed in the early civilization.



Many may not be aware that the life insurance industry of India is as old as it is in

any other part of the world. The first Indian life insurance company was the Oriental Life

Insurance Company, which was started in India in 1818 at Kolkata1. A number of players

(over 250 in life and about

100 in non-life) mainly with regional focus flourished all across the country.

However, the Government of India, concerned by the unethical standards adopted by

some players against the consumers, nationalized the industry in two phases in 1956 (life)

and in 1972 (non-life). The insurance business of the country was then brought under two

public sector companies, Life Insurance Corporation of India (LIC) and General

Insurance Corporation of India (GIC).

Reforms were initiated with the passage of Insurance Regulatory and

Development Authority (IRDA) Bill in 1999. IRDA was set up as an independent

regulatory authority, which has put in place regulations in line with global norms. So far

in the private sector, 12 life insurance companies and 9 general insurance companies have

been registered.

INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY ACT - 1999.

(I.R.D.A)

The object of this act is to provide for the establishment of an authority to protect

the interest of holders of insurance policies, to regulate, to promote and ensure orderly

growth of insurance industries. Insurance Regulatory and Development Authority

(IRDA) has sought the comments of industry participants to finalize the guidelines for

online agents' training institutes.

These proposed guidelines are in addition to its standard instructions and

guidelines applicable for approval/renewal of agents' training institutes. The guidelines

would be applicable to all the online training institutes including in-house training

institutes of the insurers.

As per the draft guidelines, the applicant should undergo at least 120 hours

practical training in life or general insurance business. The composite training should be

for at least 180 hours, where the applicant is seeking license for the first time to act as an

insurance agent.



The duration should be minimum of 24 days for 120 hours training and 36 days

for 180 hours training with a maximum five hours per day. Stating that no product

training/market survey should be included into this 120/180 hours training, the regulator

said revision examination could form part of the training.

DUTIES, POWERS AND FUNCTIONS OF AUTHORITY:

The powers and functions of the authority include registration of insurers,

intermediaries and agents regulations of terms and conditions of contract of

insurance, promoting and regulating professional organizations connected with the

insurance, monitoring investment of funds and solvency margin of insurance

companies.

The authority is to be advised by a committee to be known as the insurance advisory

committee, which shall consists of not more than 25 members including ex-officio

members in the insurance sector. The insurance advisory committee is expected to

advice the authority on matters relating to making of the regulations

An Indian insurance company has been defined as a company incorporated under the

Companies Act - 1956 and the paid capital of General Insurance business will have

to be not less than Rs 100/- Crores and in case of companies wanting to transact

reinsurance business the paid capital will have to not less than Rs 200/- Crores.

It has also been notified that every insurance company will have to appoint an

Actuary to be approved by I.R.D.A. The duty of the Actuary is to insure that

The assets are valued in appropriate manner

The liabilities are evaluated as required

The prescribed margin for maintaining solvency is complied with.

The I.R.D.A also issued regulations with regards to advertisement so as to

include almost any public communication for a sale of insurance policy.

THE FUNDAMENTAL / PRINCIPALS OF LAW OF INSURANCE.

UTMOST GOOD FAITH:



The parties to the commercial contract, according to the law are required to

observe good faith. The seller cannot mislead the buyer in respect of transactions,

but he has no subject of the contract, it is the buyer’s duty to be careful while

entering into a contract. 'LET THE BUYER BE AWARE' is a legal rule.

INSURABLE INTEREST:

The owner of the property has a right under law to effect insurance on the

property if he is likely to suffer financially when property is lost or damaged.

This legal right to insure is called insurable interest, without insurable interest the

contract of insurance will be void. Because of this legal requirement of insurable

interest the insurance contracts are not gambling transactions.

INDEMNITY:

The principal of indemnity arises under common law and requires that an

insurance control should be a contract of indemnity only and nothing more. The

object of principals to place the insured after a loss in the same financial position

as far as possible, as he is occupied immediately before the loss. The effect of this

principal is to prevent the insured from making the profit out of his loss or

gaining any advantage or benefit. The object of a contract of insurance is to

protect the financial interest of the insured in the subject matter of insurance.

SUBROGATION:

The principal of subrogation arises from the principal of indemnity. Subrogation

may be defined as transfer of rights and remedies of the insured to the insurer

who has indemnified the insured in respect of the loss. If the insured has any

rights of action to be recovered the loss from any third party, who is primary

responsible for the loss, the insurer having paid the loss is entitled to avail

himself of these rights to recover the loss from the third party. The effect is that

the insured does not receive more than actual amount of his loss and any

recovery affected from the third party goes to the benefit of the insurer to reduce

the amount of his loss

INSURANCE MARKET IN INDIA



By any yardstick, India, with about 200 million middle class households, presents

a huge untapped potential for players in the insurance industry. Saturation of markets in

many developed economies has made the Indian market even more attractive for global

insurance majors. Life insurance is mainly considered as a saving instrument rather than

an investment avenue as it promotes compulsory savings besides reducing tax burden on

the policyholder and protect the family of the policyholder in the event of unforeseen

happening. It is the only saving instrument, which covers the life risk besides giving tax

concession both at entry (premium paid) and at exit

HISTORY AND PRESENT STATUS OF INSURANCE MARKET IN

INDIA

The insurance sector in India has come a full circle from being an open

competitive market to nationalization and back to a liberalized market again. Tracing the

developments in the Indian insurance sector reviles the 360-degree turn witnessed over a

period of almost two centuries.

A BRIEF HISTORY OF THE INSURANCE SECTOR

The business of life insurance in India in its existing form started in India in

the 1818 with the establishment of Oriental Life Insurance Company in Calcutta. Some

of the important milestones in the Life Insurance business in India are:

1912: The Indian Life Assurance Companies Act enacted as the first statue to

regulate the life insurance business.

1928: The Insurance Companies Act enacted to enable the government to

collect statistical information about both life and non-insurance business.

1938: Earlier legislation consolidated and amended to by the Insurance Act

with the objective of protecting the interest of the insuring public.



1956: 245 Indian and foreign insurers and provident societies are taken over

by the central government and nationalized. LIC found by an Act of Parliament, viz.

LIC Act 1956, with a capital contribution of rupees Five Crores from the Government of

India.

INSURANCE SECTOR REFORMS

In 1993, Malhotra Committee, headed by former Finance Secretary and RBI

Governor R.N. Malhotra, was formed to evaluate the Indian insurance industry and

recommend its future direction. The Malhotra committee setup with the objective of

complimenting the reforms initiated in the financial sector. The reforms where aimed at

"creating a more efficient and competitive financial system suitable for the requirements

of the economy keeping in mind the structural changes currently underway and

recognizing that insurance is an important part of the overall financial system where it

was necessary to address the need for similar reforms.."

In 1994, the Committee submitted the report and some of the key recommendations

included:

Structure

a. Government stake in the insurance companies to be brought down to 50%.

b. Government should take over the holdings of GIC and its subsidiaries so

that these subsidiaries can act as independent corporations.

c. All the insurance company should be given greater freedom to operate.

Competition

A Private companies with a minimum paid up capital of Rs. 1bn should be

allowed to enter the industry.

b. No company should deal both the life insurance and general insurance

through a single entity.



c. Foreign companies may be allowed to enter the industry in collaboration

with the domestic companies.

c. Postal Life Insurance should be allowed to operate in the rural market.

d. Only one state level Life Insurance Company should be allowed to

operated in each state.

Regulatory body

a. The Insurance Act should be changed.

b. An Insurance regulatory body should be setup.

Reforms in the insurance sector were initiated with the passage of the IRDA Bill

in the Parliament in December 1999. The IRDA since its incorporation as statutory body

in April 2000 has fastidiously stuck to its schedule of framing regulations and registering

the private sector insurance companies.

The other decisions taken simultaneously to provide the supporting systems to the

insurance sector and in particular the life insurance companies was the launch of the

IRDA's online service for issue and renewal of license to agents.

The approval of institutions for imparting training to agents has also ensured that

the insurance companies would have trained work force of insurance agents in place to

sell their products, which are expected to be introduced by early next year.

Since being set up as an independent statutory body the IRDA has put in a

framework of globally compatible regulations. In the private sector 12 life insurance and

6 general insurance companies have been registered.

Insurance is an Rs 400 billion business in India, and together with banking

services adds about 7% to India's GDP. Gross premium collection is about 2% of GDP

and has been growing by 15 to 20% per annum. India also has the highest number of life

insurance policies in force in the world, and total investable funds with the LIC are

almost 8% of GDP. Yet more than three fourth of India's insurable population has no life

insurance or pension cover. Health insurance of any kind is negligible and other forms

of non life insurance are much below international standards.



To tap the vast insurance potential and to mobilize long term savings we need

reforms which include revitalizing and restructuring of the public sector companies, and

opening up the sector to private players. A statutory body needs to be made to regulate

the market and to promote a Healthy market structure. Insurance Regulatory Authority

(IRA) is one such body, which checks on these tendencies. IRA role comprises of

following three functions:

a. Protection of consumer's interest

b. To ensure financial soundness and solvency of the insurance industry,

c. To ensure healthy growth of insurance market.

An insurance policy protects the buyer at some cost against the financial loss

arising from a specified risk. Different situations and different people require a different

mix of risk-cost combinations. Insurance companies provide these by offering schemes of

different kinds.

Unfortunately, the concept of insurance is not possible in our country. As per the

latest estimates, the total premium income generated by life and general insurance in

India is estimated at around 1.95% of GDP. How ever India's share of world insurance

market has shown an increase of 10% from 0.31% in 1996-97 to 0.34% in 1997-98.

India's market share in the life insurance business showed a real growth of 11% there by

outperforming global average of 7.7%. Non life insurance business grew by 3.1% against

global average of 0.20%. In India insurance pending per capita was among the last in the

world at $7.6 compared to $7 in the previous year . Amongst the emerging economies,

India is one of the least insured countries but the potential for growth is phenomenal, as a

significant portion of its population is in services and the life expectancy also increased

over the years.

The nationalized insurance industry has not offered consumers a variety of

products. Opening of the sector to private firms will foster competition, innovation and

variety of products. It would also generate greater awareness on the need for buying

insurance as a service and not merely for tax exemption, which is currently done on the

demand side, a strong correlation between demand for insurance and per capita income

level suggests that high economic growth can spur growth in demand for insurance. Also



there exists a strong correlation between insurance density and social indicators such as

literacy. With social development, insurance demand will grow.



LIFE INSURANCE MARKET IN INDIA

Life Insurance Statistics

Indian Population I bn

GDP as on 2000 ( Rs bn) 50000 bn

Gross Domestic Saving as a % of GDP 32%

NCAER estimate is Insurance Population 240 mn

Estimated market 2010 950 mn

India has an enormous middle class that can afford to buy life, health, and

disability and pension plan products. The low level of penetration of life insurance in

India compared to other developed nations can be judged by a comparison of per capita

life premium.

Country Life Premium per capita US $ in 1994

Japan 3817

UK 1280

USA 964

India 4

Clearly, there is considerable scope to raise per capita life premium in the market

is effectively tapped. India has traditionally been a high savings oriented country often

described as being on par with thrifty Japan. Insurance sector in the US is a big in the size

as the banking industry there. This gives us an idea of how important is the sector is.

Insurance sector canalizes the saving of the people to long-term investments. In India

where infrastructure is said to be critical importance, this sector will bring the nations

own money for the nation.

In the three years time we would expect 10% of the population to be under some

sort of an insurance cover. Thus assuming a premium of Rs 5000 on an average, 100

million Rs 5000 = Rs 500 billion.



This has made the sector the hottest one in India after IT. With social security and

security to public at large being the agenda for opening the sector, the role of the

regulator becomes all the more serious and one would be carefully watched at every step.

The Insurance Regulator and Development bill is now an Act. With this India is

now the cynosure of all the global insurance players. Numerous player, both Indian and

foreign have announced their intention to start their insurance shops in India. IRDA,

under chairman ship of Mr. RANGACHARI, opened the window for applying license in

India.

One of the main difference between the developed economies and the emerging

economies is that insurance products are bought in the former while these are sold in

later. Focus if insurance industry is changing towards providing a mix of both

protection/risk cover and long-term investment opportunities.



WHY LIFE INSURANCE?

WHY LIFE INSURANCE?

Life insurance cover is essential for it provides the following benefits:

a. A lump sum payment to the nominees at the time of the death of the policyholder;

b. A regular payment to the nominees in the event of the death of the policyholder;

c. Tax benefits, as premium paid to reduce the liability of tax;



d. Relieves economic hardships in the family on the uneventful death of the sole income

holder;

e. Inculcates the habit of saving.

NEED FOR INSURANCE

The need for life insurance comes from the need to safeguard our family. If you

care for your family's needs you will definitely consider insurance.

Today insurance has become even more important due to the disintegration of the

prevalent joint family system, a system in which a number of generations co-existed in

harmony, a system in which a sense of financial security was always there as there were

more earning members.

Times have changed and the nuclear family has emerged. Apart from the other

pitfalls of a nuclear family, a high sense of insecurity is observed in it today besides, the

family has shrunk. Needs are increasing with time and fulfillment of these need is a big

question mark.

How will you be able to satisfy all those needs? Better lifestyle, good education,

and your long desired house. But again you just cannot fritter away all your earnings.

You need to save a part of it for the future too a wise decision. This is where insurance

helps you.

Factors such as fewer numbers of earnings members, stress, pollution increased

competition, higher ambitions etc are some of the reasons why insurance has gained

importance and where insurance plays a successful role.

An Overview

Insurance business is divided into four classes:

1) Life Insurance business

2) Fire

3) Marine

4) Miscellaneous Insurance.



Life Insurers transact life insurance business; the rest is transacted by General

Insurers. No composites are permitted as per law. The business of Insurance essentially

means defraying risks attached to any activity over time (including life) and sharing the

risks between various entities, both persons and organizations. Insurance companies (ICs)

are important players in financial

Markets as they collect and invest large amounts of premium. Insurance products

are multi purpose and offer the following benefits:

1. Protection to the investors

2. Accumulate savings

3. Canalize savings into sectors needing huge long term investments.

ICs receive, without much default, a steady cash stream of premium or

contributions to pension plans. Various actuary studies and models enable them to

predict, relatively accurately, their expected cash outflows. Liabilities of ICs being long-

term or contingent in nature, liquidity is excellent and their investments are also long-

term in nature. Since they offer more than the return on savings in the shape of life-cover

to the investors, the rate of return guaranteed in their insurance policies is relatively low.

Consequently, the need to seek high rates of returns on their investments is also low. The

risk-return trade off is heavily tilted in favour of risk. As a combined result of all this,

investments of insurance companies have been largely in bonds floated by GOI, PSUs,

state governments, local bodies, corporate bodies and mortgages of long term nature. The

last place where Insurance companies are expected to be over-active is bourses.

Lately ICs have ventured into pension schemes and mutual funds also. However,

life insurance, constitutes the major share of insurance business. Life Insurance depends

upon the laws of mortality and there lies the difference between life and general

insurance businesses. Life has to extinguish sooner or later and the claim in respect of life

is certain. In case of general insurance, however, there may never be a claim and the

amount can never be ascertained in advance. Hence, Life Insurance includes, besides

covering the risk of early happening of an event, an element of savings also for the



beneficiaries. Pension business also derives from life insurance in as much as the pension

outgo again depends upon the laws of mortality. The forays made by insurance

companies in this area are, therefore, natural corollary of their business.

TYPES OF INSURANCE POLICIES

Broadly there are 3 types of life insurance policies:

a. Term Insurance Plans

b. Whole Life Insurance

c. Endowment Insurance Plans

Term Insurance Plans:



Pure life covers where you pay for risk cover and do not expect to receive

anything else in return is now available in India. Opting for such policy will improve the

efficiency of policy premium and enable you for a bigger risk cover for the same cost.

These are term insurance plans with maturity benefits; some term plans give your

premium amounts back with interest. This is a marketing policy to suit the general

psychology and should normally involve higher premium cost.

Whole life insurance plans:

Whole life policies require you to pay premium through out your life and cover

risk for whole life. The policies without profit are cheaper.

Endowment Insurance plans (with or without money back):

Endowment policies are costliest and among this group, money back policies

involve paying highest premium. They give you maturity benefits (normally sum assured)

and additional profit by way of bonus, guaranteed additions; loyalty bonus etc. money

policies also provide partial payment back to you at pre-set time periods.



DEFINITION OF SOME TYPES OF POLICIES

1. ANNUITY

An annuity is a steady stream of equal payments that one receives every year, or

every month either for life or a fixed number of years, as return after making an

investment either as a lump sum or through installments paid over a certain number of

years, a specific sum. Upon the death of the annuitant, or at the expiry of the period fixed

for annuity payments, the invested annuity fund is refunded usually along with a small

bonus. Annuities differ from all other forms of life insurance in one fundamental way-

they do not provide any insurance cover but offer a guaranteed income for a certain

period or for life.

Typically annuities are bought to generate income during one's retired life, which

is why they are also called pension plans. An annuity provides a solution to the biggest

financial insecurity of old age retires and the income from salary ceases.

2. ENDOWMENT

Endowment policies cover the risk for a specified period at the end of which the

sum assured is paid back to the policyholder along with the entire bonus accumulated

during the term of the policy. It is this feature the payment of the endowment to the

policyholder upon the completion of the policy's term, which rightly accounts for the

popularity of endowment policies.

Typically, one's responsibility for the financial protection of the family reduces

significantly once the children are grown up and independently settled. The focus then

shifts to managing a smaller family perhaps only oneself and one's spouse after

retirement/ this is where the endowment the original sum assured and the accumulated

bonus received back comes handy. You can either use the endowment amount for buying

an annuity policy to generate a monthly pension for the whole life, or put it in any other

suitable investment of your choice. This is the major benefit of an endowment policy

over a whole life.

3. MONEY BACK



Unlike endowment plans, in money back policies the policyholder gets periodic

"survivance payments" during the term of the policy and a lump sum amount on

surviving its term. In the event of the death during the term of the policy, the beneficiary

gets full sum assured without any deductions for the amount paid till date, and no further

premiums are required to be paid. These types of policies are very popular, since they can

be tailored to get large amount at a specific periods as per the needs of the policyholder.

FUTURE OF LIFE INSURANCE MARKET

Even at modest estimates the size of life insurance market in India could be

around Rs. 40000 billion covering just 250 mn people…

LIC had enjoyed the monopoly of the big life insurance market since 1956. LIC

was in for a surprise now an then when it found that, among air crash casualties or rail

accident victims, only very few had life insurance cover. In fact LIC did attempt to

evaluate the size of the market and look at broad homogeneous segments of the market

based on the data provided by Decennial Census Report relating to worker population

categorized into groups based on occupations. However LIC's major segmentations were

the urban, rural, male, female, medical and non-medical segments. The census of

occupation data was used more as a framework for formulating the business plans. But,

now with the entry of new player, very conscious of their market shares, the evaluation of

the size of the market for life insurance assumes importance. The market size with its

viable segments is to be identified and suitable products to meet the needs of these

segments developed.

Life insurance market covers the entire age range of the population of 1000

mn in India. However taking into account their economic conditions and their

ability to pay the premium for some sort life insurance cover or an annuity, the

number of eligible prospects for life insurance may be put around 30% of the total

population viz, 300 mn. LIC has on its books as on date 125 mn policies. Research

had shown, that each of these holders of the policies have on an average, 1.6 (as

many policy holders have more than one policy). Thus the no of persons holding

life insurance policies with LIC good work out to 75 mn. This means only 25% of



the potential market has so far covered, leaving the remaining 75%- a vast market of 225

mn persons- to be covered.

Market size ever expanding…

This market size is dynamic and ever expanding. The growth is dictated by several

factors such as:

1. An addition of around 20 mn of new population each year.

2. More and more persons due to improvements in economic conditions move

continuously into the zone of people with ability to pay premium for a life

insurance policy.

3. Many among the existing policyholders are grossly under insured. They need

and can afford additional insurance. These can be made to join the market as

potential prospects for additional insurance. These form the creamy layers

market capable of being very good source of high volume of business.

Taking all these factors into account it can be seen that the size of the market for

life insurance in India is enormous. Assuming the number of persons who can be sold an

insurance policy to be 250 mn, in terms of number of policies, this works out to 400 mn

policies. In financial terms, taking the average size of the policy as Rs 1 lakh, the sum

assured works out to Rs 40000 bn or $ 800 bn. The first year's premium income can be

assume as Rs 6250 per annum per policy. The figures would keep increasing year by year

due to the improvement in the economic conditions leading to increase in the number of

potential prospects .



COMPANY PROFILE



COMPANY PROFILE

ICICI GROUP

OVERVIEW OF ICICI BANK

ICICI Bank is India's second-largest bank with total assets of about Rs.146,214

crore at December 31, 2004 and profit after tax of Rs. 1,391 crore in the nine months

ended December 31, 2004 (Rs. 1,637 crore in fiscal 2004). ICICI Bank has a network of

about 530 branches and extension counters and over 1,880 ATMs. ICICI Bank offers a

wide range of banking products and financial services to corporate and retail customers

through a variety of delivery channels and through its specialized subsidiaries and

affiliates in the areas of investment banking, life and non-life insurance, venture capital

and asset management. ICICI Bank set up its international banking group in fiscal 2002

to cater to the cross-border needs of clients and leverage on its domestic banking

strengths to offer products internationally. ICICI Bank currently has subsidiaries in the

United Kingdom and Canada, branches in Singapore and Bahrain and representative

offices in the United States, China, United Arab Emirates, Bangladesh and South Africa

ICICI Bank's equity shares are listed in India on the Stock Exchange, Mumbai

and the National Stock Exchange of India Limited and its American Depositary Receipts

(ADRs) are listed on the New York Stock Exchange (NYSE).


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As required by the stock exchanges, ICICI Bank has formulated a Code of

Business Conduct and Ethics for its directors and employees.

At April 4, 2005, ICICI Bank, with free float market capitalization* of about Rs.

308.00 billion (US$ 7.00 billion) ranked third amongst all the companies listed on the

Indian stock exchanges.

ICICI Bank was originally promoted in 1994 by ICICI Limited, an Indian

financial institution, and was its wholly-owned subsidiary. ICICI's shareholding in ICICI

Bank was reduced to 46% through a public offering of shares in India in fiscal 1998, an

equity offering in the form of ADRs listed on the NYSE in fiscal 2000, ICICI Bank's

acquisition of Bank of Madura Limited in an all-stock amalgamation in fiscal 2001, and

secondary market sales by ICICI to institutional investors in fiscal 2001 and fiscal 2002.

ICICI was formed in 1955 at the initiative of the World Bank, the Government of India

and representatives of Indian industry. The principal objective was to create a

development financial institution for providing medium-term and long-term project

financing to Indian businesses. In the 1990s, ICICI transformed its business from a

development financial institution offering only project finance to a diversified financial

services group offering a wide variety of products and services, both directly and through

a number of subsidiaries and affiliates like ICICI Bank. In 1999, ICICI become the first

Indian company and the first bank or financial institution from non-Japan Asia to be

listed on the NY After consideration of various corporate structuring alternatives in the

context of the emerging competitive scenario in the Indian banking industry, and the

move towards universal banking, the managements of ICICI and ICICI Bank formed the

view that the merger of ICICI with ICICI Bank would be the optimal strategic alternative

for both entities, and would create the optimal legal structure for the ICICI group's

universal banking strategy. The merger would enhance value for ICICI shareholders

through the merged entity's access to low-cost deposits, greater opportunities for earning

fee-based income and the ability to participate in the payments system and provide

transaction-banking services. The merger would enhance value for ICICI Bank

shareholders through a large capital base and scale of operations, seamless access to

ICICI's strong corporate relationships built up over five decades, entry into new business

segments, higher market share in various business segments, particularly fee-based



services, and access to the vast talent pool of ICICI and its subsidiaries. In October 2001,

the Boards of Directors of ICICI and ICICI Bank approved the merger of ICICI and two

of its wholly-owned retail finance subsidiaries, ICICI Personal Financial Services

Limited and ICICI Capital Services Limited, with ICICI Bank. The merger was approved

by shareholders of ICICI and ICICI Bank in January 2002, by the High Court of Gujarat

at Ahmedabad in March 2002, and by the High Court of Judicature at Mumbai and the

Reserve Bank of India in April 2002.

ICICI Bank is India's second largest bank wit an asset base of Rs. 106812 crores.

ICICI bank provides a broad spectrum of financial services to individuals and companies.

This includes mortgages, car and personal loans, credit and debit cards and corporate and

agricultural finance. The bank services a growing customer base of more than 7 mn

customer accounts and five mn bondholders accounts through a multi channel access

network. The includes about 450 branches and extension counters, 1675 ATMs, call

centers and Internet banking. ICICI bank posted a net profit of Rs 1206 Crore for the year

ended March 31, 2003. ICICI bank is the only Indian company to be rated above the

country rating by the international rating agency Moody's and only the Indian company to

be awarded an investment grade international credit rating. The enjoys the highest rating

from all Indian leading rating agencies.



OVERVIEW OF ICICI VENTURE WING

ICICI Venture, incorporated in 1988, is the most experienced and largest private equity

and venture fund management company in India with funds currently under management

in excess of Rs.20 billion (USD 400 million).

Over the last 15 years, ICICI Venture has been successful in identifying trends

well ahead of the curve; be it retail, media and entertainment, information technology,

real estate or pharmaceuticals and biotechnology. During this period ICICI Venture

launched and managed 8 funds with a corpus exceeding Rs. 20billion (USD 400 million).

Each fund had a distinct investment theme and ICICI Venture today has some of the best

known and managed companies in India in its portfolio. Herein ICICI Venture has

followed the philosophy of being a multi-sector player ensuring an optimum balance of

risk and return to its investors.

ICICI Venture has the distinction of managing a large number of exits in the

country. With over 100 liquidity events, the organization has reaped rich experience and

is well positioned to handle IPOs, strategic sale and/or mergers.

ICICI Venture has a wide network of third party investors, which include

domestic investors such as public sector banks, financial institutions and insurance

companies. A significant portion of the fund's corpus is also from international

development financial institutions and international funds.

The company has over 25 qualified professionals with experience across sectors

and functions. The capabilities of the team, structure of the organization, emphasis on

value creation and performance evaluation matrices enable ICICI Venture to extract

superior returns from its investments.

ICICI Venture has now launched the India Advantage Fund, with a corpus of

Rs.10 Billion (USD 225 million). The Fund will invest in mid-sized growth companies

for funding through expansions, acquisitions and restructuring. The Fund will also focus

on mezzanine funding and buyouts.

ICICI PRUDENTIAL



ICICI PRUDENTIAL Life Insurance was established in 2000 with a commitment

to expand and reshape the life insurance industry in India. The company was amongst the

first private sector insurance company to begin operations after receiving approval from

Insurance Regulatory Development Authority (IRDA), and in the same time since, has

taken several steps towards realizing its goal.

THE COMPANY

ICICI PRUDENTIAL Life Insurance Company is a joint venture between ICIC, a

premier financial powerhouse and prudential plc; a leading international financial

services group headquarters in the United Kingdom. ICICI Prudential was amongst the

first private sector insurance company to begin operations in December 2000 after

receiving approval from Insurance Regulatory Development Authority (IRDA).

ICICI and PRUDENTIAL came together in 1993 to form prudential ICICI Asset

Management Company, which has today emerged as one of the leading mutual funds in

India. The two companies bring together two of the strongest financial service brands in

Asia, known for their professionalism, excellent quality of service and long term

commitment to customers. Riding on the success of this relationship, the two companies

joined hands once more in 2000, to form ICICI PRUDENTIAL LIFE INSURANCE, with

a commitment to provide leading -edge life insurance solutions. ICICI Bank has 74%

stake in the company, and Prudential plc has 26%.

To make ICICI Prudential the dominant Life and Pensions player built on trust by

world-class people and service.

This we hope to achieve by:



Understanding the needs of customers and offering them superior products and

service

Leveraging technology to service customers quickly, efficiently and conveniently

Developing and implementing superior risk management and investment

strategies to offer sustainable and stable returns to our policyholders

Providing an enabling environment to foster growth and learning for our

employees

And above all, building transparency in all our dealings.

The success of the company will be founded in its unflinching commitment to 5

core values -- Integrity, Customer First, Boundaryless, Ownership and Passion. Each of

the values describe what the company stands for, the qualities of our people and the way

we work

We do believe that we are on the threshold of an exciting new opportunity, where

we can play a significant role in redefining and reshaping the sector. Given the quality of

our parentage and the commitment of our team, there are no limits to our growth.

PRUDENTIAL PLC

Established in 1848, Prudential Plc is a leading international financial services

company in UK with around US $ 250 bn funds under management, and more than 16

million customers worldwide. Prudential has brought to market an integrated range of

financial services products that now includes:

life assurance

pensions

mutual funds

banking

investment management

general insurance

In Asia Prudential is UK's largest life insurance company with a vast network of

22 life and mutual fund operations in 12 countries: China, Hong Kong, India, Indonesia,

Japan, Korea, Malayasia, Philippines, Singapore, Taiwan, Thailand, Vietnam. Since



1923, prudential has championed customer centric products and services, supported by

over 60000 staff and agents across the region.

DISTRIBUTION

ICICI PRUDENTIAL has one of the largest distribution networks amongst

private life insurance in India, having commenced operations in 28 cities and towns in

India. These are: Ahmedabad, Bangalore, Chandigarh, Chennai, Coimbatore, Gurgaon,

Hyderabad, Indore, Jaipur, Jalandhar, Kanpur, Cochin, Kolkotta, Kottaym, Lucknow,

Ludhiana, Madurai, Mangalore, Meerut, Nagpore, Nasik, Nodia, New Delhi, Pune,

Thane, Vododara, Vashi.

The company has a largest number of banc assurance tie-ups, having agreement

with ICICI Bank, Citi Bank, Allahabad bank, Federal bank, South Indian Bank, Bank of

India, Lord Krishna Bank, Punjab and Maharashtra co-operative Bank, as well as some

corporate agents. It has also tied-up with organizations like Dahn for distribution of

Salaam Zindagi, a policy for the socially and economically under privilege sections of

society.

SERVICE

ICICI PRUDENTIAL has recruited and trained over 18000 insurance agents to

interface with and advice customers, and has the highest number amongst private life

insurers on the renowned Million Dollar Round table (MDRT). Further, it leverages its

state-of-the-art IT infrastructure to provide superior quality of service to customers.

MILESTONES

ICICI PRUDENTIAL life insurance has crossed Rs 500 crore premium income

mark on March 31, 2003 having issued nearly 350000 policies for a sum assured of Rs

8700 crore since its inception.

The last fiscal had been significant growth for ICICI PRUDENTIAL across all

segments, with 246827 policies issued in the period April 2002-March 2003, and Rs 348

Crore premium from new business in the same period, a 200 per cent growth over the

previous fiscal (April 2001-March 2002).



The company had also met all its rural and social sector obligations, said a press

release. The growth been driven by pensions and unit linked products. It has garnered

23% of pensions premium amongst all players for the period April 2002-February 2003

and 34% in Feb alone. Today the company has established itself the number one private

life insurer in the country.

HISTORY:

Incorporated on July 20, 2000 it is a 74:26, joint venture between ICICI and

Prudential plc of U.K. in November 2000, ICICI Prudential Life Insurance was granted

Certification of Registration for carrying out Life Insurance business by the insurance

Regulatory & Development Authority of India. The company issued its first policy on

December 12, 2000.

Year of review 2002-2003:

ICICI Prudential has consolidated its position as the leading private life insurer in

India. ICICI Prudential's annualized premium grew more than three fold over the

previous year. Continuing with its 'Customer First' philosophy, ICICI Prudential has

significantly expanded its presence to 29 operational Branches (2001-2002: 16), with the

Advisor Force growing to over 18000. It has also strengthened its Alternate Distribution

channels, i.e. Bancassurance, Corporate Agents and Direct Marketing, making purchase

of insurance more accessible. Bancassurance and Direct Marketing channels have

contributed to over 18% of the Annualized Premium.

ICICI Prudential was amongst the first to identify the emerging opportunity in the

Pension segment and launched two linked pension products Life time Pension and Life

Link Pension, which have been well received in the market.

MANAGEMENT

BOARD OF DIRECTORS



ICICI Prudential Life Insurance Company Limited Board comprises reputed people

from the finance industry both from India and abroad.

Mr. K.V. Kamath, Chaiman

Mr. Mark Norbon

Mrs. Lalita D. Gupte

Mrs. Kalpana Morparia

Mrs. Chanda Kochhar

Mr. Kevin Holmgren

Mr. M.P.Modi

Mr. R Naryanan

Ms Shikha Sharma

MANAGEMENT TEAM

Ms Shikha Sharma, Managing Director

Mr. Sandeep Batra, Chief Financial Officer & Company Secretary

Mr. Shubhro J. Mitra, Chief - Human Resources

Mr. Puneet Nanda, Head - Investments

Ms. Anita Pai, Chief - Operations & Underwriting

Mr. V. Rajagopalan, Appointed Actuary

Mr. Shridhar Sethuram, Chief - Sales & Marketing

Mr. Anil Tikoo, Head - Information Technology.



VISION-MISSION

VISION

To make ICICI Prudential the dominant Life and Pensions player built on trust

by world class people and service.

This we hope to achieve by:



Understanding the needs of customers and offering them superior products and

service

Leveraging technology to service customers quickly, efficiently and conveniently.

Developing and implementing superior risk management and investment strategies to

offer sustainable and stable returns to our policyholders.

Providing an enabling environment to foster growth and learning for our employees.

And above all, building transparency in all our dealings.

The success of the company will be founded in its unflinching commitment to 5 core

values:

Integrity

Customer First

Boundaryless

Ownership

Passion

Each of the values describe what the company stands for, the qualities of our

people and the way we work. We do believe that we are on the threshold of an existing

new opportunity, where we can play a significant role in redefining and reshaping the

sector. Given the quality of our parentage and the commitment of our team, there are no

limits to our growth.

VISION-MISSION

To be dominant life and pension players built on trust by world class people

and service.

INTEGRITY



Stand up honestly and fearlessly for what they truly care about.

Always act in a consistent and equitable manner.

Don’t compromise the future to pay for the present.

CUSTOMER FIRST

Own the customer: Deliver the promise.

Listen actively, stretch continually to add value to customers and channel

partners

BOUNDARYLESS

Never say "its not my job" go beyond the call of duty.

Experiment- believe anything is possible

Seek new ideas regardless of source

Share ideas and thoughts freely across levels and functions

OWNERSHIP

If it is to be, it is up to me

Bias for action

Own mistakes. Learn from failures

Confront hard facts, pursue goals relentlessly

Accountable for team performance

PASSION

Winning instinct- transmit boundless energy and enthusiasm to drive

results

Stand up and make a difference - challenge status quo and drive change



Demonstrate speed for competitive advantage

Passionately nurture and reward excellence



PRODUCTS

PRODUCTS

Insurance Solutions For Individuals:

ICICI PRUDENTIAL Life Insurance offers a range of innovative, customer centric

products that meet the needs of customer at every life stage. Its 13 products can be enhanced with

up to four riders, to create a customized solution for each policyholder.

Saving Solutions



ICICI PRUDENTIAL Save and Protect is a traditional endowment savings plan

that offers life protection along with adequate returns.

ICICI PRUDENTIAl CashBank is an anticipated endowment policy ideal for

meeting milestone expenses like a child's marriage, expenses for child's education or

purchase of an asset.

Protection Solutions

ICICI PRUDENTIAL Life Guard is a protection plan, which offers life covers at

very low cost. It is available in three options - level term assurance, level assurance with

return of premium and single premium.

Child Solutions

ICICI PRUDENTIAL Smart Kid provides guaranteed educational benefits to a

child along with life insurance cover for the parent who purchases the policy. The policy

is designed to provide money at important milestones in child's life.

Market Linked Solutions

ICICI PRUDENTIAL LifeLink is a single premium Market Linked Insurance

Plan, which combines life insurance cover with the opportunity to stay, invested in the

stock market.

ICICI PRUDENTIAL LifeTime offers customers the flexibility and control to

customize the policy to meet the changing needs at different life stages. It offers three

investment options

Growth Plan

Income Plan

Balanced Plan

Retirement Solutions

ICICI PRUDENTIAL Forever Life is retirement product targeted at individuals in

their 30's



ICICI PRUDENTIAL LifeTime Pension is a regular premium market linked pension

plan.

ICICI PRUDENTIAL LifeLink Pension is a single premium market linked pension

plan.

Single Premium Solutions

ICICI PRUDENTIAL Assure Invest is a single premium savings product with life

cover for terms of 5, 7 or 10 years.

ICICI PRUDENTIAL Reassure is a retirement product for senior citizens who are on

the verge of retirement or have just retired.

ICICI PRUDENTIAL also launched "salaam zindagi", a social sector group insurance

policy targeted at the economically under privileged sections of the society.

Group Insurance Solutions

ICICI PRUDENTIAL also offers Group Insurance Solutions for companies

seeking to enhance benefits to their employees.

ICICI PRUDENTIAL Group Gratuity Plan: ICICI Pru's Group Gratuity Plan

helps employers fund their statutory gratuity obligation in a scientific manner. The plan

can also be customized to structure schemes that can provide benefits beyond the

statutory obligations.

ICICI PRUDENTIAL GROUP SUPERANNUATION PLAN:

ICICI Pru offers a flexible defined contribution superannuation scheme to provide

a retirement kitty for each member of the group. Employees have the option of choosing

from various annuity options or opting for a partial commutation of the annuity at the

time of retirement.

ICICI PRUDENTIAL GROUP TERM PLAN:

ICICI Pru's flexible group term solution helps to provide affordable cover to

members of a group. The cover could be uniform or based designation or rank or a



multiple of salary. The benefit the policy is paid to the beneficiary nominated by the

member on his/her death.

FLEXIBLE RIDER OPTIONS;

ICICI PRUDENTIAL life offers for flexible riders, which can be added to the

basic policy at a marginal cost, depending on the specific needs of the customer.

Accident and disability benefit: if the death occurs as the result of an accident during

the term of the policy the beneficiary receives an additional amount equal to the sum

assured under the policy. If the death occurs while

Level Term Cover: This rider provides the option to increase the risk cover. It may be

increased for an additional amount upto a maximum of the existing basics sum

assured on your policy

Critical Illness Benefit: protects the insured against the financial loss in the event of 9

specified critical illnesses. Benefits are payable to the insured for medical expenses

prior to death.

Major Surgical Assistance Benefit: provides financial support in the event of medical

emergencies, ensuring that benefits are payable to the life assured for medical

expenses incurred for surgical procedures. Cover is offered against 43 different

surgical procedures.

AWARENESS…

According to Saugata Gupta Chief - Marketing of ICICI Pru life's

communication strategies have been very successful in building the brand and driving

awareness of the company and the category. ORG-Marg's Brand track survey undertaken

last year indicate that though awareness of LIC stands at 100%, ICICI Pru life stands not

far behind in the second place at 70%. Further the awareness scores for ICICI Pru life

double between February 2001 and September 2001.

ORG Marg research also showed that the communication not only created

saliency and awareness, but also succeeded in influencing the buying decision. ICICI Pru

life emerged far ahead of other private players as far as share of wallet went, with 52% of

the respondents saying that they intended to buy policy from ICICI Pru life.



ADVERTISING EFFECTIVENESS…

ICICI Pru is a case study in the role of marketing in reshaping an industry. It

highlights how an industry where "sell" and "push" were often used words and consumer

was nothing more than a file number, has changed to one where "consumer preference"

and "consumer pull" rule the roost. Here's a look at how ICICI Pru changed the rules of

the games and emerged a leader in the process.

BACKGROUND

When the insurance sector was liberalized in 2000, the private players contend

with a few issues. Ratio of premium to GDP was low: 1.3% of GDP was invested in

insurance. Insurance penetration was at an abysmal 22% of insurable population. Besides

the above the private players were faced with attitudinal barriers, perception of insurance

has a tax saving tool and lack of a consumer centric approach in service and product

offerings.

THE MARKETING CHALLENGES FACING ICICI Pru:

The challenge therefore was to change established category drivers (death

payment and Tax saving) and to get the consumer to evaluated insurance on a more

emotional plat form rather than a mere rational decision. (tax savings).

THE CAMPAIGN OBJECTIVES:

Reposition the category in the consumer's mind. Influence the consumer to view it as

a protection instrument and not a tax saving product alone.

In the process, create differentiation for the ICICI Pru brand as a provider of social

security and family protection.

Achieve leadership status in saliency, image and product parameters.

Build credibility and trust.

CREATIVE STRATEGY:



The essence of the creative strategy is to get the consumer to re look at insurance

as a means to lead a worry free life and not as a necessary evil. To this effect the core

brand insight highlighted was "As head of the family, it is my responsibility to take care

of my loved ones and protect them from the uncertainties of life", summed up in the

advertising idea: 'we cover you at every step in life'

MARKET STRATEGY:

In a market likely to be cluttered, we used multiple touch points to reach the

consumer. The role for each medium was envisaged. The TV medium was used to

enhance the emotional link with the brand. Strategic use of 15 sec. Edits facilitated high

frequency levels. In print, the cost per response rather than the cost per thousand as

responses were measured in form of call-ins. Radio FM, Cinema, Internet were used to

create a media multiplier effect.

THE RESULTS OF COMMUNICATION EFFORTS:

Being number one in awareness and saliency. Awareness: ICICI Pru showed a

significant jump in awareness between Feb and Sept 2001. Image: highest score among

all insurance players including LIC, on image parameters like safety, modernity, service,

good returns

Etc. intention to invest: next only to LIC as per research

SUM UP

In just over a year ICICI PRUDENTIAL has emerged as India's # 1 private life

insurance company with almost 50% of the private players has sold highest number of

policies both in volume and value.



FINDINGS & ANALYSIS



ANALYSIS OF THE QUESTIONNARIE OF THE EMPLOYEES

1. Do you have various other interests (social, religious), which remain neglected because you do not get time to attend to these

Never 8%

Occasionally 4%

Sometimes 52%

Frequently 36%

Very 0%



2. Do you feel stagnant in your role



Never 4%

Occasionally 12%

Sometimes 32%

Frequently 52%

Very 0%



3. Are you able to satisfy the conflicting demands of the various peer level people

Never 12%

Occasionally 24%

Sometimes 24%

Frequently 36%

Very 4%



4. Would you like to take more responsibility than at present

Never 8%

Occasionally 24%

Sometimes 16%

Frequently 36%

Very 16%



5. The amount of work you have to do interferes with the quality you want to maintain

Never 4%

Occasionally 4%

Sometimes 48%

Frequently 40%

Very 4%



6. Is there not enough interaction between your role and other roles

Never 8%

Occasionally 8%

Sometimes 32%

Frequently 52%

Very 0%



7. Do you wish to acquire more skills to handle the responsibilities of your role

Never 4%

Occasionally 8%

Sometimes 20%



Frequently 32%

Very 36%

8. If you had full freedom to define your role you would be doing some things different from what you do now



Never 0%

Occasionally 16%

Sometimes 44%

Frequently 20%

Very 20%



9. Several aspects of your role are vague and unclear

Never 40%

Occasionally 16%

Sometimes 12%

Frequently 32%

Very 0%



10. Do you wish to have more financial resources for the work assigned to you

Never 4%

Occasionally 4%

Sometimes 4%

Frequently 28%

Very 60%



ANALYSIS

SUMMARY OF ANALYSIS

The analysis of the project:



Most of the employees feel that their other social aspects remain

neglected due to workload, which is incompatible with organizational

role.

Most of the employees feel that their roles are stagnantSome of the employees are not able to satisfy the conflicting demands of the various peer level people.Most of the employees would like to take more responsibility than the presentMost of the employees feel that their work interferes with the quality they want to maintain in their jobMost of the employees feel that there is not enough interaction between their role and other roles because each one of them is working independently.Most of the employees wish to acquire more skills to handle the responsibilities of their roleSome of the employees feel that if they are given full freedom to define their role they will do some things different from what they do now.Most of the employees feel that they should be provided with more financial resources for the work assigned.



SUGGESTIONS

SUMMARY OF SUGGESTIONS

When an individual occupies more than 1 role there are bound to be

conflicts between the different roles that he occupies. Such inter-role

conflicts are quite frequent in a modern society, where an individual is

increasingly occupying multiple roles in various organizations and



groups. So the organization should throw a light on their employees

social aspects. The organization should improve the facilities for

leisure and recreation; fact of people doing things for enjoyment,

when they are not working. The organization should arrange programs

for entertainment. Also a place for relaxation. Create a place for

indoor games like carom, table tennis etc

As the individual grows older, he also grows in the role that he

occupies in an organization of the individual that the role changes, and

with this change in role, the need for taking up a new role becomes

crucial. In order to be promoted the nit managers have to reach certain

targets set to them. Reaching these targets sometimes becomes very

difficult. This is bound to produce stress. Thus the organization should

have a systematic strategy of manpower development.

When there are conflicting expectations or demands by different role

senders, the role occupant may experience this stress. But most of the

employees are able to satisfy the demands of the various peer level

people.

But some employees are not able to satisfy the expectations from the

boss, subordinates, peers or clients. The organization should provide

the employees with full information about the products so that they

are able to satisfy the peers or clients.



A role occupant may feel that the functions, which he would like to

perform, are being performed by some other role. The stress felt may

be called role erosion. Some important role expectations of the

employee are shared by other roles within the role set. So the

organization should give a chance to employees who are willing to

take more responsibilities to enhance their performance. And thus

provide training, guidance and assistance to the employees

When the role occupant feels that there are too many expectations

from the significant others in his role set, he experiences role

overload. Some employees feel that they cannot possibly finish the

work within the time limit. The employees should be given sufficient

time to complete the work since it is an insurance industry, getting

the policies is quite difficult

When a role occupant feels that he is not prepared to undertake the

role effectively, he may experience this stress. Almost all the

employees wish to acquire more skills because the organization is



launching new products in the market for the clients and so the

employees should posses enough knowledge, skills, training about the

product because without enough preparation or orientation they are

likely to experience this type of stress

So the organization should prepare the employees for the assigned

new role.

This stress arises out of the conflict between the self-concept and the

expectations from the role, as perceived by the role occupant. Such

conflicts are common, although they may not be so severe. Some

employees are willing to do things different from what they do now.

So the organization should support such employees so that they can

generate good business, which in turn will benefit the employees and

also the organization.

Resource Inadequacy stress is experienced when the resources

required by the role occupant for performing the role effectively are

not available, such as information, people, materials, finance or other

facilities. The unit managers have to recruit 25 advisors to generate

business from them. For this purpose they have to go for fieldwork

and hunt for them. So in this process they have to spend the money in

looking out for the efficient people. So the company so provides

financial resources and transportation facilities to the employees. This

will reduce the stress of the employees and thus they will be able to



perform they role effectively with the availability of adequate

resources.

LIMITATIONS



LIMITATIONS OF THE STUDY

Since private life insurance is the new theory in the Indian market, an in depth study was not possible.

Some of the Unit Managers were engaged in their work and were not able to give their opinion about their working process.

Time Constraint



CONCLUSION

CONCLUSION

To conclude, I would like to say that working with ICICI Prudential for 2 months was a great experience. And I feel proud be an advisor of an esteemed company, as ICICI Prudential is known for its leadership in the private life insurance sector.

The company should plan ahead and practice good time management. It should also help the employees to develop a sound philosophy of life and maintain a positive attitude.



Stress Management by organization should be designed to reduce the harmful effects of stress in a way

Help employees modify their perception and understanding of work stress Help employees cope more effectively with the consequences of stress. Help the employees to identify and then modify or eliminate work stressors



ANNEXURE

“A study on Stress Management at ICICI PRUDENTIAL”

The information given by you will be used only for the academic purpose, will be of immense value and would assist me in this endeavor. Thus kindly co-operate

Name of employee :

Age :

Gender : Male Female

Marital Status : Married Unmarried

Occupation :

1.Do you have various other interests (social, religious), which remain neglected because you do not get time to attend to these



Never (0)

Occasionally (1)

Sometimes(2)

Frequently(3)

Very Frequently(4)

2. Do you feel stagnant in your role

Never (0)

Occasionally (1)

Sometimes(2)

Frequently(3)

Very Frequently(4)

3. Are you able to satisfy the conflicting demands of the various peer level people

Never (0)

Occasionally (1)

Sometimes(2)

Frequently(3)

Very Frequently(4)

4. Would you like to take more responsibility than at present

Never (0)

Occasionally (1)

Sometimes(2)

Frequently(3)

Very Frequently(4)

5. The amount of work you have to do interferes with the quality you want to maintain

Never (0)

Occasionally (1)

Sometimes(2)

Frequently(3)

Very Frequently(4)

6. Is there not enough interaction between your role and other roles



Never (0)

Occasionally (1)

Sometimes(2)

Frequently(3)

Very Frequently(4)

7. Do you wish to acquire more skills to handle the responsibilities of your role

Never (0)

Occasionally (1)

Sometimes(2)

Frequently(3)

Very Frequently(4)

8. If you had full freedom to define your role you would be doing some things different from what you do now

Never (0)

Occasionally (1)

Sometimes(2)

Frequently(3)

Very Frequently(4)

9. Several aspects of your role are vague and unclear

Never (0)

Occasionally (1)

Sometimes(2)

Frequently(3)

Very Frequently(4)

10. Do you wish to have more financial resources for the work assigned to you



Never (0)

Occasionally (1)

Sometimes(2)

Frequently(3)

Very Frequently(4)

BIBLIOGRAPHY



1. Organizational behavior : John W. Newstrom Keith Davis

2. Managing Human Resources : Wayne. F. Cascio

3. Making Organizational Roles Effective : Udai Pareek

4. Web-Site : iciciprulife.com , google.com

5. Journals : Company Journals & Magazine



STRESS MANAGEMENT



What is Stress

Stress is the general term applied to the pressures people feel in life. The presence

of stress at work is almost inevitable in many jobs. However, individual differences

account for a wide range of reactions to stress, a task viewed as challenging by one

person may produce high levels of anxiety in another. When pressure begins to build up,

it can cause adverse strain on person’s emotions, thought processes, and physical

condition. When stress becomes excessive, employees develop various symptoms of

stress that can harm their job performance and health, and even threaten their ability to

cope with the environment. Stress also leads to physical disorders, because the internal

body system changes to try to cope with stress. It is important that stress, both on and off

the job, be kept at a level low enough for most people to tolerate without developing

either emotional or physical disorders.

Stress can be either temporary or long-term, either mild or severe. The effects on

an employee depend mostly on how long its causes continue, how powerful they are,

and how strong the employee’s recovery powers are. If stress is temporary and mild, most

people can handle it or at least recover from its effects rather quickly.

Stress is simply the body's non-specific response to any demand made on it.

Stress is not by definition synonymous with nervous tension or anxiety. Stress provides

the means to express talents and energies and pursue happiness; it can also cause



exhaustion and illness, either physical or psychological; heart attacks and accidents. The

important thing to remember about stress is that certain forms are normal and essential.

As the body responds to various forms of physical or psychological stress, certain

predictable changes occur. These include increased heart rate, blood pressure (systolic

and diastolic), and secretions of stimulatory hormones. These responses to stress will

occur whether the stress is positive or negative in nature. In lay terms, it is known as the

"fight or flight" mechanism. Continual exposure lowers the body's ability to cope with

additional forms of psychological or physiological stress. The results of continuing stress

may cause disruption in one or more of the following areas of health: physical, emotional,

spiritual and/or social.

Stress is a process that builds. It's more effective to intervene early in the process

rather than later. Try to become aware of the signs that suggest the process has begun

Stress is the way your body responds to the demands placed on it. Positive or "good"

stress can help you concentrate and focus. In some instances, it actually increases your

ability to survive. Your body's response to stress can be hormonal, such as an adrenaline

rush. It can also be a rise in blood pressure, blood sugar, or body temperature. These

physical reactions can often make you more alert; give you more acute eyesight or greater

strength. That's how your body gives you what you need to act. Ideally, your body

automatically relaxes after you have handled the situation. Your physical responses

normalize and you are able to return to a state of rest. This process allows you to gather

physical and emotional energy which helps you deal with changes and challenges in your

daily life.

Your physical reaction to stress is the same for positive and negative stress; the

difference is that with negative stress your body never returns to the "pre-stress" relaxed

state. You remain tense or anxious, which drains you of emotional and physical energy.

The common expression for stress is ‘tension’ One is said to be tense, when there is some

anxiety, some fear of whether the desirable things may happen, whether something may

go wrong, etc. It is a state of discomfort felt in the mind and experienced by the body.

When there is tension, the body may become weak.

In management literature, ‘Stress’ is defined as a response of the human body to a

felt need. When one is hungry and there is an urge to eat food, the body is in a state of



stress, which disappears when the need is fulfilled. This definition suggests that stress is a

desirable condition, making one move towards fulfillment of needs. This is partly true.

Stress occurs also when the need arises out of fear and the urge is to run and escape. This

may sometimes, be not possible. In that case, there is no movement, the need remains

unfulfilled and the stress condition does not disappear.

Stress is identified as of two kinds. One is called EuStress, which is the condition

in which there is drive and effort to fulfill the needs. Motivation is high. Achievement is

seen as possible. The situation is challenging. Stress disappears when the need is fulfilled

There is success. The other is DiStress, which is the condition when there is a sense of

helplessness in being able to achieve. The feeling is of frustration. There is no success.

May be, there is no attempt even, because success is seen as impossible. The stress

condition remains.

If one were to chart the level of stress and the level of effort put in to work, it

would be an inverted parabola. Eustress would be in the ascending left side of the

parabola. The challenge would be maximum at the hump. The latter half on the right side

represents Distress. The problems of stress are caused by Distress, not by Eustress.

Eustress is necessary for the person to be fully alert, for all his faculties to come

into play to face the situation. For example, a goalkeeper in football or hockey, will be

totally relaxed when the ball is at the other end of the ground, but becomes extremely

alert as the ball moved towards him. His body stiffens, the eyes begin to bulge, focussing

on the ball and the movement of the players, picking up the slightest of movements and

every nerve and muscle ready to respond to those movements. That is Eustress, without

which the goalkeeper cannot be at his best. So also, Eustress is experienced by the

batsman in cricket when the bowler is on the run, and by the tennis player when the ball

is about to be served at the other end.

Stress is a part of living. Too little stress and we become apathetic and ineffective.

Too much stress and we live with anxiety, fatigue, and over time, increase our risk for

accidental injury and serious illness. Maintaining an optimal level of stress is an ongoing

challenge of everyday life.

The stress response of the body is meant to protect and support us. To maintain

stability or homeostasis, the body is constantly adjusting to its surroundings. When a



physical or mental event threatens this equilibrium, we react to it. This process is often

referred to as the "fight or flight response." We prepare for physical action in order to

confront or flee a threat. Our ancestors responded to stressful ordeals in this fashion.

Millions of years later, when you face a situation that you perceive as challenging, your

body automatically goes into overdrive, engaging the stress response. Immediately, you

release the same hormones that enabled cave people to move and think faster, hit harder,

see better, hear more acutely, and jump higher than they could only seconds earlier. Like

theirs, your heartbeat speeds up; your blood pressure increases; your breathing quickens.

Most modern stresses, however, do not call for either fight or flight. Our experience of

stress is generally related to how we respond to an event, not to the event itself.



Stress has existed throughout the evolution. About 4 billion years ago, violent

collision of rock and ice along with dust and gas, led to the formation of a new planet.

The planet survive more than 100 million years of meltdown to give birth to microscopic

life . These first organisms endured the harshest of conditions—lack of oxygen, exposure

to sun's UV rays and other inhospitable elements, to hang on to their dear life. Roughly

300,000 years ago, the Neanderthals learnt to use fire in a controlled way, to survive the

Glacial Age. And around 30,000 years, Homo sapiens with their dominant gene

constitutions and better coping skills, won the game of survival. Each step of evolution a

test of survival, and survival, a matter of coping with the stress of changing conditions.

Millions of trials and errors in the life process have brought men to this stage.

Coping with events to survive has led men to invent extraordinary technologies,

beginning with a piece of sharpened stone.

From the viewpoint of microevolution, stress induction of transpositions is a

powerful factor, generating new genetic variations in populations under stressful

environmental conditions. Passing through a 'bottleneck', a population can rapidly and

significantly alters its population norm and become the founder of new, evolved forms.

Gene transposition through Transposable Elements (TE)—'jumping genes', is a

major source of genetic change, including the creation of novel genes, the alteration of

gene expression in development, and the genesis of major genomic rearrangements. In a

research on 'the significance of responses of the genome to challenges,' the Nobel Prize

winning scientist Barbara McClintock, characterized these genetic phenomena as

'genomic shock’. This occurs due to recombination events between TE insertions (high

and low insertion polymorphism) and host genome. But, as a rule TEs remain

immobilized until some stress factor (temperature, irradiation, DNA damage, the

introduction of foreign chromatin, viruses, etc.) activates their elements.

The moral remains that we can work a stress condition to our advantage or protect

ourselves from its untoward follow-throughs subject to how we handle a stress situation.

The choice is between becoming a slave to the stressful situations of life or using them to

our advantage



"Nothing gives one person so much advantage over another as to remain always

cool and unruffled under all circumstances”

In a challenging situation the brain prepares the body for defensive action—the fight or

flight response by releasing stress hormones, namely, cortisone and adrenaline. These hormones

raise the blood pressure and the body prepares to react to the situation. With a concrete defensive

action (fight response) the stress hormones in the blood get used up, entailing reduced stress

effects and symptoms of anxiety.

When we fail to counter a stress situation (flight response) the hormones and

chemicals remain unreleased in the blood stream for a long period of time. It results in

stress related physical symptoms such as tense muscles, unfocused anxiety, dizziness and

rapid heartbeats. We all encounter various stressors (causes of stress) in everyday life, which

can accumulate, if not released. Subsequently, it compels the mind and body to be in an almost

constant alarm-state in preparation to fight or flee. This state of accumulated stress can increase

the risk of both acute and chronic psychosomatic illnesses and weaken the immune system of the

human body.

Stress can cause headaches, irritable bowel syndrome, eating disorder, allergies,

insomnia, backaches, frequent cold and fatigue to diseases such as hypertension, asthma,

diabetes, heart ailments and even cancer. In fact, Sanjay Chugh, a leading Indian

psychologist, says that 70 per cent to 90 per cent of adults visit primary care physicians

for stress-related problems. Scary enough.

Just about everybody—men, women, children and even fetuses—suffer from stress.

Relationship demands, chronic health problems, pressure at workplaces, traffic snarls, meeting

deadlines, growing-up tensions or a sudden bearish trend in the bourse can trigger stress

conditions. People react to it in their own ways. In some people, stress-induced adverse feelings

and anxieties tend to persist and intensify. Learning to understand and manage stress can prevent

the counter effects of stress.

Methods of coping with stress are aplenty. The most significant or sensible way

out is a change in lifestyle. Relaxation techniques such as meditation, physical exercises,

listening to soothing music, deep breathing, various natural and alternative methods,

personal growth techniques, visualization and massage are some of the most effective of

the known non-invasive stress busters


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The words 'positive' and 'stress' may not often go together. But, there are

innumerable instances of athletes rising to the challenge of stress and achieving the

unachievable, scientists stressing themselves out over a point to bring into light the most

unthinkable secrets of the phenomenal world, and likewise a painter, a composer or a

writer producing the best paintings, the most lilting of tunes or the most appealing piece

of writing by pushing themselves to the limit. Psychologists second the opinion that some

'stress' situations can actually boost our inner potential and can be creatively helpful.

Sudha Chandran, an Indian danseus, lost both of her legs in an accident. But, the physical

and social inadequacies gave her more impetus to carry on with her dance performances

with the help of prosthetic legs rather than deter her spirits.

Experts tell us that stress, in moderate doses, are necessary in our life. Stress

responses are one of our body's best defense systems against outer and inner dangers. In a

risky situation (in case of accidents or a sudden attack on life et al), body releases stress

hormones that instantly make us more alert and our senses become more focused. The

body is also prepared to act with increased strength and speed in a pressure situation. It is

supposed to keep us sharp and ready for action.

Research suggests that stress can actually increase our performance. Instead of

wilting under stress, one can use it as an impetus to achieve success. Stress can stimulate

one's faculties to delve deep into and discover one's true potential. Under stress the brain

is emotionally and biochemically stimulated to sharpen its performance

Stress is, perhaps, necessary to occasionally clear cobwebs from our thinking. If

approached positively, stress can help us evolve as a person by letting go of unwanted

thoughts and principle in our life. Very often, at various crossroads of life, stress may

remind you of the transitory nature of your experiences, and may prod you to look for the

true happiness of life.


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Organizational and individual programs to help managers and employees cope up

with stress have become increasingly popular, as the toll taken by stress has become more

widely known. Methods are available to individuals and organizations for managing

stress and reducing its harmful effects. Stress management refers to any program that

reduces stress be helping people understand the stress response, recognize stressors, and

use coping techniques to minimize the negative impact of stress.

INDIVIDUAL METHODS

Stress management by individuals includes activities and behaviors designed to

eliminate or control the sources of stress and make the individual more resistant to or

better able to cope with stress. The first step in individual stress management involves

recognizing the stressors that are affecting the person’s life. Next, the individual needs to

decide what to do about them.

Practical suggestions for individual stress management include the following

Plan ahead and practice good time management

Get plenty of exercise

Develop a sound philosophy of life and maintain a positive attitude

Concentrate on balancing your work and personal life.

Learn a relaxation technique.

ORGANIZATIONAL METHODS

Stress management by organizations is designed to reduce the harmful effects of

stress in three ways

Identify and then modify or eliminate work stressors

Help employees modify their perception and understanding of work stress

Help employees cope more effectively with the consequences of stress.

APPROACHES TO STRESS MANAGEMENT



Both organization and individuals are highly concerned about stress and its

effects. In attempting to manage stress, they have three broad options

Prevent or control it,

Escape from it,

Learn to adapt it.

Organizations can seek to improve managerial communication skills, empower

employees through participation, redesign jobs to be more fulfilling, or implement

organization development programs. These steps are aimed at reducing or eliminating

stressors for employees. Some employees can escape stress by requesting job transfers,

finding alternative employment, taking early retirement or acquiring assertiveness skills

allow them to confront the stressor.

Some people experience stress because they are detached from the world around

them, they lack warm interpersonal relationships. Individuals with a driving ambition and

a strong need for independence may fail to develop close attachments to friends and

colleagues. To achieve their success, they often sacrifice fulfillment to their social needs.

Their lack of social attachments may result in anger, anxiety, and loneliness- all

producing stress in their lives.

STRESS AND JOB PERFORMANCE

Stress can be either helpful or harmful to job performance, depending on its level.

When there is no stress, job challenges are absent and performance tends to be low. As

stress increases, performance tends to increase, because stress helps a person call up resources to meet

job requirements. Constructive stress is a healthy stimulus that encourages employees to respond to

challenges. Eventually, stress reaches a plateau that corresponds approximately with a person’s top day to

day performance capability. At this point additional stress tends to produce no more improvement.

Finally, if stress becomes too great, it turns into a destructive force. Performance

begins to decline at some point because excess stress interferes with performance. An

employee loses the ability to cope: she or he becomes unable to make decisions and

exhibits erratic behavior. If stress increases to a breaking point, performance becomes

zero: the employee has a breakdown, becomes too ill to work, is fired, quits, or refuses to

come to work to face the stress.

STRESS MANAGEMENT



Is the need of the hour. However hard we try to go beyond a stress situation, life

seems to find new ways of stressing us out and plaguing us with anxiety attacks.

Moreover, be it our anxiety, mind-body exhaustion or our erring attitudes, we tend to

overlook causes of stress and the conditions triggered by those. In such unsettling

moments we often forget that stressors, if not escapable, are fairly manageable and

treatable.

Stress, either quick or constant, can induce risky body-mind disorders. Immediate

disorders such as dizzy spells, anxiety attacks, tension, sleeplessness, nervousness and

muscle cramps can all result in chronic health problems. They may also affect our

immune, cardiovascular and nervous systems and lead individuals to habitual addictions,

which are inter-linked with stress.

Like "stress reactions", "relaxation responses" and stress management techniques

are some of the body's important built-in response systems. As a relaxation response the

body tries to get back balance in its homeostasis. Some hormones released during the

'fight or flight' situation prompt the body to replace the lost carbohydrates and fats, and

restore the energy level. The knotted nerves, tightened muscles and an exhausted mind

crave for looseners. Unfortunately, today, we don't get relaxing and soothing situations

without asking. To be relaxed we have to strive to create such situations

Stress is physical

When the goalkeeper or the batsman or the tennis player experiences Eustress,

there are changes in the physical system. The muscles become tense. The eyes become

sharper. When one is under severe distress, as in the case of Arjuna in Kurukshetra, the

person sweats, the body becomes weak and loses strength.

Study of stress shows that the response is the same whether it is Eustress or

Distress, except that the degree varies. The response is called the Fight or Flight

response. When one senses danger, one is tempted to either stand and fight to ward off

the danger or run away – Flight. The body conditions itself for either event,

automatically, causing changes in the normal secretions of hormones and other

chemicals, withdrawing from activities that are less important and diverting to activities

that should have higher priority in that situation.. Food is less important. The muscles


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need more energy and therefore the blood carries substances to the muscles, diverting

them from the stomach. More oxygen than normal is required. Therefore, the breathing

becomes faster, the heart-beat rate increases, the blood vessels dilate to carry more

oxygen. The liver releases more stored energy. The eyes and ears become more acutely

sensitive to the sensations from outside.

The body is programmed to reverse these changes, and revert to normal, when the

threat disappears. If however, one remains in a continuous state of stress, without

becoming normal, the changed conditions tend to remain permanent, like a rubber band

loses its elasticity when held extended for a long time. These abnormal conditions

manifest as diseases and one suffers from high blood pressure, cardiac disorders, peptic

ulcers, insomnia, constipation, fatigue, colitis, kidney problems, etc. Behaviourally, they

lead to absenteeism, alcoholism, use of drugs, marital disharmony and so on, which are

both organisationally and socially, undesirable

Stress is psychological

Stress is experienced when one perceives a threat and the fight or flight response

is called for. This perception is an interpretation that one makes within oneself, of the

external factors. When one sees a dog on the street baring its teeth, one may either get

frightened or remain calm. Both fright and calmness are psychological reactions. The

choice is one’s own and is not dictated by the dog. This choice is made, largely

unconsciously, on the basis of one’s beliefs about dogs in general, what one has heard

about rabies being caused by dog bites, what one sees about the characteristics of the dog

in question at that time, one’s predilections towards animals, and so on.

When one becomes anxious in a situation, the situation does not create any

anxiety. What one thinks about the situation creates the anxiety. If one is confident of

tackling the situation, there is no anxiety. Therefore, the level of stress is caused by one’s

own perception of one’s capability to cope with the situation. Thus, stress is a

psychological response, depending upon one’s level of fear, confidence, anxiety, anger,

hurt, etc. The physical response is an automatic sequel to one’s psychological condition.

The physical changes depend on the extent of fear or confidence etc. Therefore, the

management of stress essentially is in the control one has on one’s emotions.

Stressors



Stress is not caused by any external factor. It is created by oneself, by the way one

thinks about the external factors. Yet there are situations, in which most people tend to

get stressed. These are called stressors. In personal life, death of a close relative is a

stressor. An important test in life, like a final examination; a transfer of residence;

separation due to marriage, divorce or change of job; difficult financial demands; serious

illness; likelihood of unpleasant secrets becoming revealed; are common stressors.

Having to welcome and entertain important visitors or having to deliver a speech for the

first time, also cause considerable stress. At work, the following may be stressors.,

Needs not met. These could be needs for power, for fulfillment, for use of

knowledge

Not being included by others as part of a group you want to belong to

Not being recognized or valued for one’s competence

Feeling that one is not adequate for the task, particularly when compared to some

one else

Being denied what is due (rewards, work)

Monotony or boredom

Not having enough freedom at work, being closely supervised

Inequity in rewards, assignments

Very little opportunity for growth

Too much of work, overload

Too little work, boredom

Inadequate resources to do the assigned work, creating possibilities of failures

Conflict in values at work, being required to do what one does not like to do

Too many and conflicting demands at work from the role set

Responsibilities not clear, ambiguity on what is expected

Un understanding, unpredictable, temperamental boss

New unfamiliar work

Being blamed

On close analysis, it will be found that all of the above situations are, in some way

or other, causing perceptions of possible failure at work or non-recognition and

consequent loss of self-esteem.



It is important to recognize whether you are under stress or out of it. Many times,

even if we are under the influence of a stressful condition and our body reacts to it

internally as well as externally, we fail to realize that we are reacting under stress. This

also happens when the causes of stress are there long enough for us to get habituated to

them. The body constantly tries to tell us through symptoms such as rapid palpitation,

dizzy spells, tight muscles or various body aches that something is wrong. It is important

to remain attentive to such symptoms and to learn to cope with the situations.

We cope better with stressful situation, when we encounter them voluntarily. In

cases of a relocation, promotion or layoff, adventurous sports or having a baby, we tend

to respond positively under stress. But, when we are compelled into such situations

against our will or knowledge, more often than not, we wilt at the face of unknown and

imagined threats. For instance, stress may mount when one is coerced into undertaking

some work against one's will.

Levels of Stress: There are four basic levels of stress symptoms.

1. The first is the normal initial response and is characterized by increased heart beat

rates, increased blood pressure, dilation of pupils, sweat in palms and reduced

activity in the stomach.

2. At the second level, there is more irritability, stuttering and stammering, difficulty

in concentrating, restlessness, lack of appetite and tendency to increased smoking

or drinking for those so habituated.

3. At the third level, there would be more headaches, stomachaches, diarrhea,

sweating, insomnia, depression etc.

4. The fourth level would be characterized by ulcers, stroke, alcoholism, drug

addiction, psychosis etc.

CAUSES OF STRESS

An important first step in prevention is to examine the causes of stress. Conditions

that tend to cause stress are called stressors. Although even a single stress may cause



major stress, usually stressors combine to pressure an employee in a variety of ways until

stress develops. Almost any job condition can cause stress, depending on an employee’s

reaction to it. For example, one employee will accept a new work procedure and feel little

or no stress, while another experiences overwhelming pressure from the same task.

Part of the difference lies in each employee’s experiences, general outlooks, and

expectations, frequently cause stress for employees.

Work overload and time deadlines put employees under pressure can lead to

stress. Often these pressures arise from management, and a poor quality of management

can cause stress. Examples of stress producing factors related to management are an

autocratic supervisor, an insecure job climate, lack of control over one’s own job, and

inadequate authority to match one’s responsibilities. Many things can trigger the stress

reaction, including danger, threat, news, illness, as well as significant changes in one's

self-identification as a Type A or as a Type B personality

TYPICAL CAUSES OF STRESS ON THE JOB

Work Overload

Time pressures

Poor quality of supervision

Insecure job climate

Lack of personal control

Inadequate authority to match responsibilities

Role conflict and ambiguity

Differences between company and employee values

Change of any type, especially when it is major or unusual

Frustration

Technology with training or support

Signs of Stress

Although perception is a part of stress, stress is real. There are more than a few

ways a person can react to stress. The reactions fall into three categories: thoughts,

feelings and behaviors. Stressful thoughts involve what’s going on in your head when

you are stressed out. Some of the thoughts a person might have include the following:


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Low self-esteem

Fear of failure

Inability to concentrate

Embarrassing easily

Worrying about the future

Preoccupation with thoughts/tasks

Forgetfulness

Emotional stress can cause a person to have feelings of anxiousness, fear, anger or even

the “blues.”

Stress sometimes brings out unwanted behaviors too. The following is a list of

stressful behaviors:

Acting on a whim

Being accident prone

Crying for no apparent reason

Grinding your teeth

Laughing in a high pitch and nervous tone of voice

Increasing smoking

Increasing use of drugs and alcohol

Stuttering and other speech difficulties

In addition to stressful feelings, behaviors and thoughts, physiology, which refers

to the way that the human body reacts chemically and physically to stress, can also cause

problems. Stress can manifest itself mentally and physically. Following are some of the

indicators of a stressed-out person:

Perspiration /sweaty hand.

Increased heart beat

Trembling

Dryness of throat and mouth

Tiring easily

Urinating frequently


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Sleeping problems

Diarrhea / indigestion / vomiting

Butterflies in stomach

Headaches

Premenstrual tension

Pain in the neck and or lower back.

Loss of appetite or overeating

Susceptibility to illness

WHAT ARE THE SYMPTOMS OF STRESS?

Physical symptoms

Physical symptoms can be caused by other illnesses, so it is important to have a

medical doctor treat conditions such as ulcers, compressed disks, or other physical

disorders. Remember, however, that the body and mind are not separate entities. The

physical problems outlined below may result from or be exacerbated by stress:

sleep disturbances

back, shoulder or neck pain

tension or migraine headaches

irregular heartbeat, palpitations

asthma or shortness of breath

chest pain

Emotional symptoms

Like physical signs, emotional symptoms such as anxiety or depression can mask

conditions other than stress. It is important to find out whether they are stress-related or

not. In either case, the following emotional symptoms are uncomfortable and can affect

your performance at work or play, your physical health, or your relationships with others:

nervousness, anxiety



depression, moodiness

“butterflies”

irritability, frustration

memory problems

lack of concentration

Relational symptoms

The antisocial behavior displayed in stressful situations can cause the rapid

deterioration of relationships with family, friends, co-workers, or even strangers. A

person under stress may manifest signs such as:

increased arguments

isolation from social activities

conflict with co-workers or employers

frequent job changes

road rage

domestic or workplace violence

overreactions



STRESS AT WORK PLACE



STRESS AT WORKPLACE

It is not possible to remove the pressures at work but one can definitely reduce

pressure, which in turn takes form of stress and further shapes itself as ailments by

enabling people

Stress in the workplace is becoming a major concern for employers, managers and

government agencies, owing to the Occupational Health and Safety legislations requiring

employers to practice ‘duty of care’ by providing employees with safe working

environments which also cover the psychological wellbeing of their staff.

One of the costs, for employers, of work place stress is absenteeism, with the

A.C.T.U. reporting that owing to stress, nearly fifty per cent of employees surveyed had

taken time off work. Other negative effects were reductions in productivity, reduced

profits, accidents, high rates of sickness, increased workers’ compensation claims and

high staff turnover, requiring recruiting and training of replacement staff.

While a certain amount of stress is needed to motivate individuals into action,

prolonged stress can have a huge impact on overall health. More than two-thirds of visits

to doctors’ surgeries are for stress-related illnesses. Stress has been linked to headaches,

backaches, insomnia, anger, cramps, elevated blood pressure, chronic fatigue syndrome,

fibromyalgia and lowered resistance to infection. For women, stress is a key factor in

hormonal imbalances resulting in menstrual irregularities, PMS, fibroids, endometriosis

and fertility problems. Stress can also be a factor in the development of almost all disease

states including cancer and heart disease.

Each profession has its own unique factors that may cause stress; below are some

causes of stress that cross many professions:

· Increased workload



· Organizational changes

· Lack of recognition

· High demands

· Lack of support

· Personal and family issues.

· Poor work organization

· Lack of training

· Long or difficult hours

· inadequate staff numbers and resources

· Poor management communication

· Lack of control or input

Workplace stress is on the rise and its costing corporate America a fortune. Some

estimate that 80% of health care costs are stress related, and these expenses go right to

the bottom line.

According to CNN-Money.com, Americans spent more than $17 billion for anti-

depressants and anti- anxiety drugs in 2002, up 10% from the year before and nearly 30%

over a two-year period.

The Institute for Management Excellence reports that American industry spends

more than $26 billion each year for medical bills and disability payments with another

$10 billion for executive's lost workdays, hospitalization, and early death.

In addition to these staggering figures, stress takes its toll through the added costs of

quality control, legal challenges, lost opportunities, poor performance, bad attitudes, and

training.

We cannot do much about the skyrocketing costs of medical care and prescription

drugs, but we can take immediate action to control the top ten causes of stress as

identified by The Global Business and Economic Roundtable on Addiction and Mental

Health.



The Countdown is:

10. "Workload" – Employees report that they are often stressed when they have too little

or too much to do. Managers need to divide responsibilities and help employees prioritize

work that must be done. Make sure you understand the impact before shifting

responsibilities. Take into account the cost of stress before you increase anyone’s

workload or hire more people.

9. "Random interruptions" - Telephones, pagers, walk-in visits, and spontaneous demands

from supervisors all contribute to increased stress. Time management, delegation of

responsibilities, and clarification of expectations can reduce these stressors.

8. "Pervasive uncertainty" – Stress levels increase rapidly when people are confronted by

new requirements and procedures. Keeping people informed controls stress and increases

productivity. Put details in a memo so they can review the facts following your

explanations.

7. "Mistrust and unfairness" - These situations keep everyone on edge, create bad

attitudes, and lower productivity. It is important to keep an open line of communication

to avoid misunderstanding and know what people are thinking about your decisions.

Managers must consistently build trust and give equal treatment - just do the right thing.

6. "Unclear policies and no sense of direction" - Lack of focus causes uncertainty and

undermines confidence in management. You need more than a well-written policy

manual. Enforcement of policies and clear communications are essential.

To make sure everyone gets the message, you can repeat your explanation in a variety of

ways – repetition and feedback are important. Reinforce policies through memos, articles,

bulletin board postings, personal meetings, and small group discussions.

5. "Career and job ambiguity" - If people are uncertain about their jobs and careers, there

is a feeling of helplessness and of being out of control. In addition to the trusted job

descriptions and annual personnel reviews, people need to understand a broad range of

issues that affect the company.

News of mergers, consolidations, plant closings, and restructuring contribute to a feeling

of helplessness. Management must keep people informed about situations that will affect

their jobs, or the rumor mill will add to an already stressful situation.



4. "No feedback - good or bad” – People want to know whether they are meeting

expectations. Consistent, written and verbal, personalized feedback is required. Some

people need more attention than others, but everyone’s performance is enhanced if

leaders frequently affirm individual efforts.

3. "No appreciation” - Failure to show appreciation generates stress that endangers

productivity throughout the company. There are many ways to demonstrate appreciation,

but the most effective is a sincere comment about how much the person means to you and

the company.

2. "Lack of communications" - Poor communication leads to decreased performance and

increased stress. Management memos and announcements work well for distributing

information, but two-way conversation improves communication and solicits ideas and

suggestions while reducing stress and complaints.

1. “Lack of control” – Workplace stress is at its greatest when employees have no say

regarding things that affect them. You can decrease sensitivity to all the other stressors

and give a sense of being in control by involving employees in operating and

administrative decisions are acting on their input. Frontline employees know what they

are talking about. Listening to what they have to say reduces stress and increases

productivity.



MANAGING STRESS

Stress cannot be avoided. It should not be avoided. Without stress, there will be

no attempt to try the difficult. One will give up much too easily. One will not succeed in

doing even what one is easily capable of, because even the normal faculties will not come

into play - like the goalkeeper, if he remained relaxed even at the last minute.

There are two aspects to take care of in managing stress. One is that one should

not develop stress to the point that one becomes non-functional like Arjuna laying down

his arms. The second is to try to get back to normal as quickly as one can and not

continue to be in a state of stress for too long.

The former is achieved essentially by an attitude that is developed by rational

thoughts. The first is to realize that one’s perceptions often distort the reality. The

situation may not be as bad as it may seem to be. The second is to understand that a

failure is not an unmitigated disaster. It is not possible to succeed all the time. It is not

even necessary to succeed all the time. One failed effort does not mean that the person is

no good. Nobody has succeeded without many losses. Even World champions sometimes

lose a first round match to an unseeded player. Marconi and Thomas Alva Edison

succeeded in their inventions after many attempts that failed. They saw failures as

opportunities to learn.

The third is to recognize that worry and anxiety will not modify the situation, but

will only disturb one’s peace of mind and health. If one watches passengers at airports

and railway stations, one will find how some of them remain quite relaxed and even

sleeping while others are continuously making enquiries from officials about extent and

causes of delays. Such constant enquiries only irritate, but do not expedite solutions.

They add to stress of self and of others.



Another very valid concept is what is postulate in the Gita. You can only do. The

results are not in your hands. The results, called failures or successes are in the future.

One does not have control on the future. One can acquire some control on the present and

that is what one does. Also the success or failure does not depend only on what one does.

Many other factors impinge. Therefore, the Gita proposes, do your duty and do not worry

about what the consequences or fruits may be. Only thoughts about the possible

desirability of the fruits cause anxieties. Mother Teresa had expressed the same thought,

when she is reported to have said to the industrialist Mr J.R.D.Tata, " Why are you

worrying about poverty? Your work is to open more industries, give more employment to

people and leave the rest to God.".

A situation that causes stress is a problem situation. The solution needs generating

managerial options. People lose tempers and abuse officials as a result of stress. None of

these solve the problems that may exist. Problem solving needs calm, clear, analytical

thinking. Clarity of thought and analysis improves with Eustress and deteriorates with

DiStress. Managerial alternatives and options will be seen when one ‘is concerned’ with

the matter, not when one is ‘anxious’.

An awareness that nothing will be perfect and that anything that can go wrong

will go wrong, helps to cope with the stress situations. People who demand of themselves

Excellence always, are likely to develop high stress. Perfection is not necessary. It may

also not be possible. Satisfying is often the only available option.

At work one must learn to delegate. Many people believe that they alone can do

certain tasks. The golden rule is to make this statement invalid as quickly as possible.

Stress is only one reason for doing so. The positive outcomes are many. As one rises in

the hierarchy, it would be impossible to do all the jobs that have to be done. One needs to

pass on to others. Time spent in making this happen, is good investment for the future.

Getting back to normal is relatively easy. One only has to get one’s mind into a

condition in which there is no stress. Any pleasant activity will make this possible.

Hobbies help. The practice of Yoga is excellent to relax one’s body and mind. Stress is

relieved when one can share one’s thoughts and feelings with someone else. Good tunes

and ragas, like in bhajans and ghazals, have the capacity to soothe one’s nerves, even if

one is not listening.



Outlines the individual and organizational impacts of stress Identifies various

interventions designed to reduce stress Covers employee rehabilitation following long-

term absence Explains employers' legal duties and obligations Features six detailed

company case studies setting out a variety of approaches to stress management Stress is

the largest single cause of long-term absence among white-collar workers in the UK. It is

not surprising, therefore, that considerable efforts are now being made to reduce its

impact in the workplace. Employers also have a legal duty to conduct risk assessments

and take action whenever employees are known to be experiencing stress.

In many organizations, however, stress still remains a difficult issue to address. It

can be hard to define and there continues to be scepticism in certain quarters over the

authenticity of some employees' claims of feeling 'stressed' at work. Securing top

management commitment by presenting a sound business case is therefore vital to

delivering the necessary organizational infrastructure for a successful stress management

strategy.

Identifying the main sources of stress remains the most effective first step in

stress management. This provides a foundation for targeting interventions at both an

individual and organizational level, such as offering training and support for managers

and employees or giving access to sources of help such as employee assistance

programmes. It is inevitable, however, that some employees will develop stress-related

illnesses resulting in long-term absence from work. At this stage, having a well-structured

rehabilitation process in place is essential.

A company practice section details how six organizations are tackling the issue of

stress management. The Study also reports on the Health and Safety Executive's work to

develop a set of 'good practice' stress management standards, while a separate four-page

'Stress and the law' section summarizes employers' legal obligations and duties.

As the Manager: As the boss, one can ensure that subordinates are not put to

undue stress and also that they are helped to get out of stress situations as quickly as

possible. The steps are

Recognize the stress levels

Show concern

Encourage talking



Listen

Empathise

Explain and show how it can be done

Reassure

Provide support

Discuss and involve them in decisions

Show respect to the individuals

Avoid insult, denunciation, abuse, reprimand, particularly in public

Avoid manipulation, coercion, blaming

Avoid pressurizing too much

Provide social support

All the above, render support and help to reduce anxieties. It is not suggested that

the demands on people should be lowered. People like challenges. They must be given

challenging assignments. That is the only way to growth. But if there is a sensing of

extreme stress, it should be managed through reassurance, not by withdrawing the

assignment.

Personality Types

Studies on Stress have identified that Type A personalities tend to get stressed

much faster than Type B personalities. The characteristics of a Type A personality are an

intense urge to achieve, impatience and restlessness, always on the move, hurrying, doing

more than one task at a time. He keeps a heavy and tight schedule and dislikes waiting

and relaxing. The Type B is exactly the opposite, takes things easy, finds time to relax, is

not impatient and is not obsessed with winning all the time.

Instruments have been developed to identify the Type of any person. But no one

is fully Type A or fully Type B. It is possible to move from one type to another. It is not

as if Type B is the more desirable personality, because stress is not the only factor

relevant for effectiveness. Achievement is equally important for effectiveness and there

the Type A has a better chance to win.

Time Management



Inadequacy of resource is a common stressor. One needs resources to do a job and

if the resource is not available, there could be stress. One important resource is Time.

Many people find that they do not have enough time to do a job. Deadlines seem to be

difficult to meet. This is true of individuals as well as of collectives. We read of

committees asking for extension of time to do their jobs; of projects not being completed

on time. Unfortunately, time is such a resource that nobody can give more or take away.

Everybody has a definite amount of time available. Studies show that people are poor

planners in terms of usage of time as a resource. Time is wasted in a number of ways.

Therefore, if one learns ways to manage one’s time better, there could be a better control

on stress.

Time is wasted because of

Non-productive work like searching for files, papers and references.

Available information being inadequate or incomplete

Meetings and lengthy reports

Indecisiveness, unable to make up one’s mind

Correcting errors in instructions, assignments

Clarifying goals and roles

Too much routine, paperwork

Lack of prioritization

nce the cause is known, the remedy should be obvious. The best way to know the

cause is to keep a detailed log of how one is using his time over a period of a week or so.

Some of the remedies will be in the nature of readjustments of personal habits, like

planning on priorities, avoiding drift in meetings, not insisting on perfectionism etc.

Some remedies will be in the nature of reorganizing work systems in the office so that

search and corrections are made minimal. Some will be in the nature of training others for

better work practices, so that supervision can be less.

Indecisiveness has been mentioned as a time waster. This may happen because of

lack of clarity on objectives or because of fatigue and the mind not being able to

concentrate. Both are avoidable. Indecisiveness can also happen because of lack of

knowledge on the subject. The time one takes to study a matter depends on one’s skill.

Experienced people run through a 100 page file, without reading every page, but picking



up the important and relevant matter, while another may have to spend double the time

reading every paper to determine its relevance. Thus, one way to manage time better is to

improve one’s skills at work

Recognizing Stress: The following are indicators that you may be experiencing

General irritability

Elevated heart rate

Increased blood pressure

Increased accident proneness

Floating anxiety-anxious feeling for no specific reason

Trembling

Insomnia

Headaches

Indigestion

Pain in neck and/or lower back

Changes in appetite or sleep pattern

Finally, if stress has become too much to handle, seek help. Don't let the fear of

what others might say or think stop you from doing what's best for you. If you think you

might be depressed, discuss your concern with your family doctor, minister, or a mental

health professional, who can listen and help you. If you’re afraid to go alone, take a

trusted friend with you. You are not alone. Parents and friends may understand more than

you think they might, and they certainly want you to feel better

Treatment and medications are available that can provide relief sometimes in a

few weeks. The most common forms of treatment for depression are psychotherapy,

antidepressants or a combination of both. Your health provider will help determine the

best treatment for you.

When is stress a warning signal?

When it is part of a natural reaction to challenge or danger, the body’s response is

called positive stress. However, when you feel out of control or under intense pressure,



you may experience the physical, emotional, or relational symptoms brought on by

negative stress. These are the signs of stress that you need to recognize and control.

It is important to remain attentive to negative stress symptoms and to learn to

identify the situations that evoke them. When these symptoms persist, you are at risk for

serious health problems because stress can exhaust your immune system. Recent research

demonstrates that 90% of illness is stress-related.

It is not possible to live without any stress. We can, however, learn ways to

handle the stress of daily life efficiently, and to manage our reactions to stress and

minimize its negative impact.

Why should you learn to cope with stress?

In the best of all possible worlds, when a stressful situation ends, hormonal

signals switch off the stress response, and the body returns to normal. Unfortunately,

stress doesn't always let up. If you tend to harbor anxiety, and you worry about daily

events and relationships, your stress response never shuts down. Studies show that long-

term activation of stress symptoms can have a hazardous, even lethal effect on your body.

When the signs of stress persist, you are at risk for many health problems that people

often do not realize are, in large part, attributable to stress, such as:

Obesity

Heart disease

Cancer

Depression

Anorexia nervosa or malnutrition

Obsessive-compulsive or anxiety disorder

Substance abuse

How To Manage Stress Better?

Identifying unrelieved stress and being aware of its effect on our lives is not

sufficient for reducing its harmful effects. Just as there are many sources of stress, there



are many possibilities for its management. However, all require work toward change:

changing the source of stress and/or changing your reaction to it. How do you proceed?

Become aware of your stressors and your emotional and physical reactions.

Notice your distress. Don't ignore it. Don't gloss over your problems.

Determine what events distress you. What are you telling yourself about meaning

of these events?

Determine how your body responds to the stress. Do you become nervous or

physically upset? If so, in what specific ways?

Recognize what you can change.

Can you change your stressors by avoiding or eliminating them completely?

Can you reduce their intensity (manage them over a period of time instead of on a

daily or weekly basis)?

Can you shorten your exposure to stress (take a break, leave the physical

premises)?

Can you devote the time and energy necessary to making a change (goal setting,

time management techniques, and delayed gratification strategies may be helpful

here)?

Reduce the intensity of your emotional reactions to stress.

The stress reaction is triggered by your perception of danger...physical danger

and/or emotional danger. Are you viewing your stressors in exaggerated terms

and/or taking a difficult situation and making it a disaster?

Are you expecting to please everyone?

Are you overreacting and viewing things as absolutely critical and urgent? Do you

feel you must always prevail in every situation?

Work at adopting more moderate views; try to see the stress as something you can

cope with rather than something that overpowers you.

Try to temper your excess emotions. Put the situation in perspective. Do not labor

on the negative aspects and the "what if's."



Learn to moderate your physical reactions to stress.

Slow, deep breathing will bring your heart rate and respiration back to normal.

Relaxation techniques can reduce muscle tension. Electronic biofeedback can

help you gain voluntary control over such things as muscle tension, heart reate,

and blood pressure.

Medications, when prescribed by a physician, can help in the short term in

moderating your physical reactions. However, they alone are not the answer.

Learning to moderate these reactions on your own is a preferable long-term

solution.

Build your physical reserves.

Exercise for cardiovascular fitness three to four times a week (moderate,

prolonged rhythmic exercise is best, such as walking, swimming, cycling, or

jogging).

Eat well-balanced, nutritious meals.

Maintain your ideal weight.

Avoid nicotine, excessive caffeine, and other stimulants.

Mix leisure with work. Take breaks and get away when you can.

Get enough sleep. Be as consistent with your sleep schedule as possible.

Maintain your emotional reserves.

Develop some mutually supportive friendships/relationships.

Pursue realistic goals, which are meaningful to you, rather than goals others have

for you hat you do not share.

Expect some frustrations, failures, and sorrows. Always be kind and gentle with

yourself -- be a friend to yourself.

SEVEN TIPS TO REDUCE STRESS AT WORK

Here are some tips that will help you achieve success over stress. You can reduce

stress on the job.

1. When making phone calls, as you pick up the phone and dial, take three slow

deep breaths. Concentrate on pushing tension out of your lungs as you exhale.



2. Sit down to eat. (Do not eat while standing or driving in your car) Focus on

relaxing and enjoyable talk at lunchtime. If co-workers only insist on rehashing

all of the negative stuff at work, insist on eating alone.

3. When you drive your car to your business or your job, listen to something

enjoyable or motivating.

4. On the way home from your business or your job, listen to enjoyable or relaxing

music.

5. Take a few minutes each day to thank God, in whatever form is consistent with

your belief system, for the glorious sunrise. At sunset, do the same. If you are at

work while the sun is setting, take a quick break to watch the sun set and again,

thank your concept of "God" for the glorious sunset.

6. Take a few minutes at work to think of people who may have harmed you in any

way. Breathe deeply, relax, and push out all of the tension surrounding those

thoughts. Fill your hear and your lungs with forgiveness for the person or persons

who have harmed you. Wish for them the same success and happiness you wish

for yourself.

7. Live today as if it where your last day. Make your last day, your best day

Stress Management Strategies

The following are tips on how to maintain a healthier lifestyle and to prepare you to cope

with the stress of everyday living.

Structure each day to include a minimum of 20 minutes of aerobic exercise.

Eat well-balanced meals, more whole grains, nuts, fruits and vegetables.

Substitute fruits for desserts.

Avoid caffeine. The substance may aggravate anxiety, insomnia, nervousness and

trembling.

Reduce refined sugars. Excess sugars cause frequent fluctuation in blood glucose

levels, adding stress to the body's physiological functioning.

Reduce alcohol and drugs. These substances may add to headaches and swelling,

decrease coping mechanisms and add to depression.



Get a least 7 hours of sleep nightly.

Spend time each day with at least one relaxation technique - imagery,

daydreaming, prayer, yoga or meditation.

Take a warm bath or shower.

Go for a walk.

Seven Successful Stress Management Techniques

Manage your stress and be a healthier, happier and more pleasant person to be

around. Let’s cut to the chase…

1. Make stress your friend

Acknowledge that stress is good and make stress your friend! Based on the body’s

natural “fight or flight” response, that burst of energy will enhance your

performance at the right moment. I’ve yet to see a top sportsman totally relaxed

before a big competition. Use stress wisely to push yourself that little bit harder

when it counts most.

2. Stress is contagious

Stressed people sneeze stress germs indiscriminately and before you know it, you

are infected with stress germs too!

Protect yourself from stress germs by recognizing stress in others and limiting

your contact with them. Or if you’ve got the inclination, play stress doctor and

teach them how to better manage their stress.

3. Copy good stress managers

When people around are losing their head, which keeps calm? What are they

doing differently? What is their attitude? What language do they use? Are they

trained and experienced? Figure it out from afar or sit them down for a chat.

Learn from the best stress managers and copy what they do.

4. Use heavy breathing.

You can trick your body into relaxing by using heavy breathing. Breathe in slowly

for a count of 7 then breathe out for a count of 11. Repeat the 7-11 breathing until

your heart rate slows down, your sweaty palms dry off and things start to feel

more normal.



5. Stop stress thought trains

It is possible to tangle yourself up in a stress knot all by yourself. “If this happens,

then that might happen and then we’re all up the creek!” Most of these things

never happen, so why waste all that energy worrying needlessly. Give stress

thought-trains the red light and stop them in their tracks. Okay so it might go

wrong – how likely is that, and what can you do to prevent it?

6. Know your stress hot spots and trigger points

Presentations, interviews, meetings, giving difficult feedback, tight deadlines…

My heart rate is cranking up just writing these down!

Make your own list of stress trigger points or hot spots. Be specific. Is it only

presentations to a certain audience that get you worked up? Does one project

cause more stress than another? Did you drink too much coffee?

Knowing what causes you stress is powerful information, as you can take action

to make it less stressful. Do you need to learn some new skills? Do you need extra

resources? Do you need to switch to de-caffeinated coffee?

7. Eat, drink, sleep and be merry!

Lack of sleep, poor diet and no exercise wreaks havoc on our body and mind.

Kind of obvious, but worth mentioning as it’s often ignored as a stress

management technique. Listen to your mother and don’t burn the candle at both

ends!

Modern life is full of stress. As organizations become more complex the potential

for, and the amount of stress increases. Urbanization, industrialization and the increase in

scale of operations in the society are some of the reasons for rising stress. Stress is an

inevitable consequence of socio-economic complexity, and to some extent, its stimulant



as well. People experience stress, as they can no longer have a complete control over

what happens in their lives.

They’re being no escape from stress in modern life; we need to find ways of using

stress productively, and reducing dysfunctional stress. Even as stress is inevitable in

today’s complex life, so is it necessary for human progress. Stress is produced by several

happenings in life. In general, every transition or change produces stress. People in newer

states experience a higher stress of transition. Young people between 20 and 30 years of

age have been found to report twice as much stress when, compared to older people.

Stress disorders have been found more frequently amongst the urban population than the

rural, and are greater in the higher educational categories.

Modern jobs are fraught with danger of stress. The motivational strategies like job

enrichment, incentives, rewards, awards, promotions may obtain superior performance

from employee in short term but these are also potential sources of job stress, if not

managed timely and appropriately. Sometimes they may have fatal consequences that

make these motivational strategies not only irrelevant but also counter productive.

Therefore, HR managers must conduct and coordinate the studies intended to understand

the sources, factors and implications of stress in organization. Broadly there are two

kinds of stress:

1. Environment induced stress like economic recession, uncertainty in business

environment, competition, changing technology, and changing products.

2. Organization induced stress like complexity of management, which demands high

level of consistent performance, increasing pressure/targets, unstructured job

profiles, enhanced responsibilities, employment insecurity, sharp reward and

punishment measures.

Studies prove that stress is becoming a major area of concern to managements

particularly to HR managers. Unfortunately, avoiding or removing stress altogether from

workplace is an impossible task. However, HR managers must make efforts to identify

sources of stress, particularly organization induced in order to minimize them. If left



unassessed or unattained, it may become a formidable block in realizing the potential of

employees apart from resulting in dysfunctional effects to the organization.

METHODLOGY

Defining the problem and Objective: The objective of the study is to use

indicators to reduce stress among the employees for the purposes like understand the

avoidable and unavoidable stress on the jobs faced by the employees and to draw plans to

weed out the avoidable stress and to minimize the organization induced stresses.

Developing the research plan: Once the problem is identified, the next step is to

prepare a plan for getting the information needed for the research. The present study will

adopt the exploratory approach wherein there is a need to gather large amount of

information before making a conclusion. If required, the descriptive and casual

approaches may also be used.

Collection and Sources of data: Market research requires two kinds of data, i.e.,

Primary data and secondary data. Being a firm in the Banking industry, data gathering

will involve usage of both primary and secondary data though there will be an extensive

usage of primary data. Well-structured questionnaires will be prepared for both existing

as well as non-existing clients. There will be personal interview, surveys. The

questionnaires will contain close-ended questions. Secondary data will be collected from

various journals, books and web sites

Analyze the collected information: This involves converting raw data into useful

information. It involves tabulation of data, using statistical measures on them for

developing frequency distributions and calculating the averages and dispersions.

Report research findings: This phase will mark the culmination of the marketing

research effort. The report with the research findings is a formal written document. The

research findings and personal experience will be used to propose recommendations

Sampling Size: 100 employees

Sampling Units: The respondents, i.e., the Unit Mangers of ICICI Prudential.

Random sampling is carried out



This particular project has been developed by using Organizational Role

Stress Scale (ORS Scale):

It can be used to measure the role stresses. The ORS scale contains five items for

each role stress; it uses a 5-point scale (0 to 4)

ROLE SPACE CONFLICTS

Self-Role Distance: this stress arises out of the conflict between the self-concept

and the expectations from the role, as perceived by the role occupant. Such conflicts are

common, although they may not be so severe.

Role Stagnation: As the individual grows older, he also grows in the role that he

occupies in an organization of the individual that the role changes, and with this change

in role, the need for taking up a new role becomes crucial. This is bound to produce some

stress.

Inter-Role Distance: When an individual occupies more than 1 role there are bound to

be conflicts between the different roles that he occupies. Such inter-role conflicts are

quite frequent in a modern society, where an individual is increasingly occupying

multiple roles in various organizations and groups



ROLE SET CONFLICTS

Role Ambiguity: When the individual is not clear about the various expectations that

people have from his role, the conflict that he faces is called role ambiguity. This may be

due to lack of information available to role occupant, or lack of understanding of the cues

available to him

Role Expectation Conflict: When there are conflicting expectations or demands by

different role senders, the role occupant may experience this stress. There may be

conflicting expectations from the boss, subordinates, peers or clients.

Role Overload: When the role occupant feels that there are too many expectations from

the significant others in his role set, he experiences role overload. It is measured by

asking questions about people’s feelings on whether they could possibly finish work

given to them during a modified workday.

Role Erosion: A role occupant may feel that the functions, which he would like to

perform, are being performed by some other role. The stress felt may be called role

erosion. Role erosion is likely to be experienced in an organization, which is redefining

its role and creating new roles.

Role Isolation: In a role set, the role occupant may feel that certain roles are

psychologically closer to him, while others are at a much greater distance. The main

criterion of distance is the frequency and ease of interaction. The gap between the desired

and the existing linkages will indicate the amount the role isolation.

Personal Inadequacy: When a role occupant feels that he is not prepared to undertake

the role effectively, he may experience this stress. The role occupant may feel that he

does not have enough knowledge, skills, or training, or has not had time to prepare for the

assigned role. Persons who are assigned new roles without enough preparation or

orientation are likely to experience this type of stress

Resource Inadequacy: Resource Inadequacy stress is experienced when the resources

required by the role occupant for performing the role effectively are not available, such as

information, people, materials, finance or other facilities


a project report on stress management at icici prudential

Economy & Finance

ms shikha

insecure job

insurance

role expectation

role occupant

pensions player

endowment

term insurance