IFFCO is one of the largest chemical fertilizer producers in the country/Asian region over a period of 25 years. IFFCO has been concentrating in the production and marketing of nitrogen phosphorus and potassium (NPK) complex and urea and introduced Di-ammonium Phosphate (DAP) in 1981.
The study is divided into 2 parts .the first part mainly involves studying and analyzing the current performance appraisal system and identifying the gaps between the current state and the desired-in-state. The general methodology adopted for study was primarily collection of primary dative; Survey based. Some secondary sources like company records, manuals, books, accounting and internet were also tapped.
The second part involves designing a moor effective performance appraisal system. The effort involved designing a guide book on performance appraisal, which throws light on the critical area of managing human performance. The scope of the project involved defining and designing performance appraisal system, devising feedback system, motivating and rewarding performance, employee career growth and development and studying the implications of an effective performance appraisal system on organization's performance. Effectively managing performance appraisal has never been more critical then in today's dynamic business environment. In order to drive increased productivity managers must consistently monitor team performance and provide meaningful feedback to their subordinates. Employees must be constantly aware of their progress as the expectations for their contributions evolve. Finally, visibility to employee accomplishments and areas of weaknesses should be used by
- During mid-sixties cooperative sector was responsible for distribution of 70 percent of fertilizers consumed in India and had adequate infrastructure.
- It had no production facilities of its own and hence dependent on public or private sectors for suppliers.
- To overcome this lacuna and to bridge the demand supply gap the farmers of the country through their own cooperative societies created this new institution to safeguard their interest.
- IFFCO was registered of November 3, 1967 as a multi unit cooperative society. The society is primarily engaged in production and distribution of fertilizers.
- A cooperative society associated with iffco has risen from 57 in 1967 to more than 36,000 now.