Professional Documents
Culture Documents
Studied By
Mohammad Shaban Khan
(Roll No. 16090)
PGDM
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CONTENTS
Chapters Page
no:
I INTRODUCTION 5
1.1 Meaning of Foreign Exchange 6
1.2 Scope of the Study 8
1.3 Significance of the Study 8
1.4 Need for the Study 9
1.5 Objective of the Study 9
1.6 Scheme of the Study 10
II ORGANIZATION PROFILE
2.1 Industry Profile 6
2.2 Company Profile (Thomas Cook India Limited) 11
2.3 Departmental Details 11
IV DATA ANALYSIS 17
4.1 Analysis of the Data, Interpretation
V FINDINGS 26
Annexure
Bibliography
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DECLARATION
done in “Thomas Cook (India) Ltd”under the guidance of Mr. Siva Kumar Thampi
submitted by me for the partial fulfillment of the requirements for the award of my Post
Date:
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ACKNOWLEDGEMENT
I am ineffably indebted to Mr. Siva Kumar Thampi, Ms. P.Sharvari Srinivas for
conscientious guidance and encouragement to accomplish this assignment. I would also
like to thank Mr. B.R. Ganesh,Mr, Narendar.k & Other Staff Member of the Company
who helped me.
Any omission in this brief acknowledgement does not mean lack of gratitude.
Date:
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Chapter 1
Introduction
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Meaning of Foreign Exchange:-
The foreign exchange market exists wherever one currency is traded for
another
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Features of Forex Market:-
• The market is open 24 hours a day, five and a half days a week.
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Scope of the Study
Only customers can determine the fate of the company; that means only
customers determine which organizations will survive and which one will fail.
After knowing the customer’s satifaction level; the company can know with
which services the customers are most satisfied and which services need
improvement
Thomas cook (India) Ltd provides foreign exchange services for the retail
as well as whole sale customers. Since Thomas cook (India) ltd is the only non
bank authorized dealer of foreign exchange and it is a big player in this field so in
order to improve the quality of services & to gain competitive advantage, this
study has been undertaken.
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Need for the Study: - .
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Scheme of the Study:-
This whole project report has been divided in to six chapters. In first
chapter introduction part has been given. That consists of meaning of
foreign exchange, Scope, significance and need for the study.
In second chapter, Industry profile and company profile has been included
in brief. Third chapter consists of design of the study. In this whole research
design has been included. Forth chapter consists of Data analysis and
interpretations part by the help of graph and pie chart. Before every graph
the question has been given so that the graph result can be understood
easily.
In sixth chapter all findings have been given. In the last chapter
Recommendations and conclusions part has been given.
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Chapter 2
Industry Profile
Market Participants
Unlike the equity market - where investors often only trade with
institutional investors (such as mutual funds) or other individual investors -
there are additional participants that trade on the forex market for entirely
different reasons than those on the equity market. Therefore, it is important
to identify and understand the functions and motivations of the main
players of the forex market.
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Central banks are often involved in manipulating reserve volumes in order
to meet certain economic goals. For example, ever since pegging its currency
(the Yuan) to the U.S. dollar, China has been buying up millions of dollars worth
of U.S. treasury bills in order to keep the Yuan at its target exchange rate.
Central banks use the foreign exchange market to adjust their reserve volumes.
With extremely deep pockets, they yield significant influence on the currency
markets.
The interbank market is the market through which large banks transact
with each other and determine the currency price that individual traders see on
their trading platforms. These banks transact with each other on electronic
brokering systems that are based upon credit. Only banks that have credit
relationships with each other can engage in transactions. The larger the bank,
the more credit relationships it has and the better the pricing it can access for its
customers. The smaller the bank, the less credit relationships it has and the
lower the priority it has on the pricing scale.
Banks, in general, act as dealers in the sense that they are willing to
buy/sell a currency at the bid/ask price. One way that banks make money on the
forex market is by exchanging currency at a premium to the price they paid to
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obtain it. Since the forex market is a decentralized market, it is common to see
different banks with slightly different exchange rates for the same currency.
Hedgers
Some of the biggest clients of these banks are businesses that deal with
international transactions. Whether a business is selling to an international client
or buying from an international supplier, it will need to deal with the volatility of
fluctuating currencies. If there is one thing that management (and shareholders)
detests, it is uncertainty. Having to deal with foreign-exchange risk is a big
problem for many multinationals. For example, suppose that a German company
orders some equipment from a Japanese manufacturer to be paid in yen one
year from now. Since the exchange rate can fluctuate wildly over an entire year,
the German company has no way of knowing whether it will end up paying more
Euros at the time of delivery.
One choice that a business can make to reduce the uncertainty of foreign-
exchange risk is to go into the spot market and make an immediate transaction
for the foreign currency that they need. Unfortunately, businesses may not have
enough cash on hand to make spot transactions or may not want to hold massive
amounts of foreign currency for long periods of time. Therefore, businesses quite
frequently employ hedging strategies in order to lock in a specific exchange rate
for the future or to remove all sources of exchange-rate risk for that transaction.
For example, if a European company wants to import steel from the U.S., it would
have to pay in U.S. dollars. If the price of the euro falls against the dollar before
payment is made, the European company will realize a financial loss. As such, it
could enter into a contract that locked in the current exchange rate to eliminate
the risk of dealing in U.S. dollars. These contracts could be either forwards or
futures contracts.
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Speculators
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Company Profile
Thomas cook is the first largest travel group in India ,second largest travel
group in Europe & third largest travel group in the world. The presence of
Thomas cook is world wide. It employs on an average of 33,000 staffs world
wide. Thomas Cook has 97 owned & leased air crafts.
Thomas Cook (India) Ltd. is the largest Travel and Financial Services
Company in the country offering a broad spectrum of travel-related services that
include Foreign Exchange, Corporate Travel, Leisure Travel, and Insurance. The
Company launched its Indian operations in 1881 and is celebrating its 125 years
of world-class service in India.
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Leisure Travel
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effectively being able to negotiate preferential rates with principals, consequently
leading to meaningful savings for the Company's corporate clients. For
personalized service at corporate doorsteps, Thomas Cook sets up 'On-sites',
which are CRS-linked and offers comprehensive end to end travel solutions
SWIFT Network
Money Gram money transfer service for quick money transfers to India
from anywhere in the world. It is also the largest player in the bulk foreign
exchange business handling bulk currency volumes for the countries leading
banks and moneychangers.
Travel Insurance
Foreign Exchange
Thomas Cook (India) Ltd is a leading foreign exchange provider and offers
a wide range of innovative products and services. These include Global Money
Card, a pin protected pre-paid card which enables travelers to withdraw local
currency from more than 1 million VISA ATMS and use the card for goods and
services at over 22 million VISA Merchant Establishments; Wire transfers of
funds worldwide.
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TCIL has Foreign Exchange Counters at the international airports of
Mumbai, New Delhi, Kolkata, Chennai, Cochin and Trivandrum, open 24 hours
and 365 days a year to cater to the needs of the international and domestic
traveler. TCIL also has a round-the clock Foreign Exchange counter at the New
Delhi Railway Station.
Vision
Mission
Service Strategy
Chapter 3
DESIGN OF THE STUDY
Research Design:
A descriptive-analytic research design is adopted in this study.
Study Area:
This study is carried out in twin cities Hyderabad & Secunderabad with a
special reference to Thomas Cook (India) Ltd., Foreign exchange branch at
Saifabad, Hyderabad.
Sampling Techniques:
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Method and Tool of Data Collection:
Data are process with the help of Ms excel using pie charts and bar
graphs.
This study was done between 8th April 2008 to 8th June 2008.
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Chapter 4
ANALYSIS OF THE DATA & Interpretation
1. The following table shows the frequency of customers
visiting
Thomas cook gender-wise.
Table 1
Gender Frequency
Male 72
Female 28
Total 100
GENDER
28%
Male
Fem ale
72%
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INFERENCE:
Transaction Frequency
Buying 69
Selling 31
Total 100
Source: - Data collected from the questionnaire.
31%
buying
selling
69%
INFERENCE:
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69% of the respondents visits the Thomas cook to buy the
foreign exchange and 31% of the respondents visits the
Thomas cook to sell the foreign exchange.
14%
INFERENCE:
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70% of the respondents visits the Thomas cook to buy the
foreign currency, 5% of the respondents visits the
Thomas cook to transact the money through wire transfer,
11% of the respondents visits the Thomas cook for making
foreign currencydemand draft and 14% of the respondents
visits Thomas cook for traveller’s cheque.
8% 12%
13%
highly satisfied
satisfied
moderately satisfied
dissatisfied
38% highly dissatisfied
29%
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INFERENCE:
9%
3% 19%
highly satisfied
satisfied
moderately satisfied
dissatisfied
41% 28% higly dissatisfied
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INFERENCE:
Signages Frequency
Highly satisfied 16
Satisfied 22
Moderately satisfied 51
Dissatisfied 5
Highly dissatisfied 6
Total 100
5% 6% 16%
highly satisfied
satisfied
moderately satisfied
22% dissatisfied
higly dissatisfied
51%
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INFERENCE:
8% 0%
12%
highly satisfied
48% satisfied
moderately satisfied
dissatisfied
higly dissatisfied
32%
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INFERENCE:
7% 13%
8%
highly satisfied
satisfied
moderately satisfied
25% dissatisfied
higly dissatisfied
47%
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INFERENCE:
Staff grooming
0%
20%
highly satisfied
41%
satisfied
moderately satisfied
11% dissatisfied
higly dissatisfied
28%
INFERENCE:
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41% of the respondents are highly satisfied with the
staff’s grooming ,28% of the respondents are satisfied,
11% of the respondents are moderately satisfied, 20% of
the respondents are dissatisfied and not even the single
respondents is highly dissatisfied with the staff’s
grooming.
Accuracy in documentataion
0%
21% 24%
highly satisfied
satisfied
moderately satisfied
dissatisfied
23% higly dissatisfied
32%
INFERENCE:
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24% of the respondents are highly satisfied with the
accuracy in documentation,32% of the respondents are
satisfied, 23% of the respondents are moderately
satisfied, 21% of the respondents are dissatisfied and not
even the single respondents is highly dissatisfied with the
accuracy in documentation.
11. The following table shows the customer’s satisfaction
with the clarification given to their queries.
10% 1%
21%
highly satisfied
satisfied
moderately satisfied
dissatisfied
35%
higly dissatisfied
33%
INFERENCE:
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21% of the respondents are highly satisfied with the
clarifications given to their queries,33% of the
respondents are satisfied,35% of the respondents are
moderately satisfied, 10% of the respondents are
dissatisfied, and only 1% of the respondents is highly
dissatisfied with the clarification given to their queries.
Time taken
13% 0%
27%
highly satisfied
23% satisfied
moderately satisfied
dissatisfied
higly dissatisfied
37%
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INFERENCE:
27% of the respondents are highly satisfied with the time
taken by the staff to complete their requirement, 37% of
the respondents are satisfied, 23% of the respondents are
moderately satisfied, 13% of the respondents are
dissatisfied and not even the single respondent is highly
dissatisfied with the time teken by the staff to complete
their requirement.
13. The following table shows the customer’s satisfaction
with the operating hours of Thomas cook.
Operating hours
8%
18% 32%
highly satisfied
satisfied
moderately satisfied
dissatisfied
higly dissatisfied
22%
20%
INFERENCE:
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32% of the respondents are highly satisfied with the
operating hours of Thomas cook, 20% of the respondents
are satisfied, 22% of the respondents are moderately
satisfied, 18% of the respondents are dissatisfied, and 8%
of the respondents are highly dissatisfied with the
operating hours of Thomas cook.
3% 10%
36%
INFERENCE:
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10% of the respondents are highly satisfied with the
updates given to them regarding various new services,
18% of the respondents are satisfied, 36% of the
respondents are moderately satisfied, 33% of the
respondents are dissatisfied and 3% of the respondents
are higly dissatisfied with the updates given to them
regarding various new services.
Chapter 5
FINDINGS
It was found that most of the customers of thomas cook are male as they
constitute 72% of the respondents.
It was found that out of 100 samples taken for the study 69% of the
customers come for buying the foreign exchange service, and only 31% of the
customers come for selling of foreign exchange service.
It was found that most of the customers come thomas cook for purchase or
selling of foreign currency, and least no: of customers come for wire transfer
of money.
It was found out that most of the customers are satisfied with the foreign
exchange rates, and 8% of the customers are not at all satisfied with the
foreign exchange rates.
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It was found out that most of the customers are moderately satisfied with the
accessibility of the branch visited.
It was found that most of the customers are moderately satisfied with the
signages to identify the branch and only 16% of the customers are highly
satisfied with signages to identify the branch.
It was found that most of the customers are highly satisfied with the thomas
cook’s staff greeting and friendly welcome.
It was found that most of the customer are only moderately satisfied with the
staff’s ability of understanding their requirement.
It was found out that most of the customers are highly satisfied with the staff
grooming and no customer is highly dissatisfied with the staff grooming.
It was found out that most of the customers are satisfied with the accuracy in
documentation and no customer is highly dissatisfied with the documentation.
It was found out that most of the customers are moderately satisfied with the
clarifications given to their queries. and only one percent of the customers
highly dissatisfied.
It was found out that most of the customers are satisfied with the time taken to
complete their requirement.
It was found out that most of the customers are highly satisfied with the
operating hours of thomas cook.
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It was found out that most of the customers are moderately satisfied with the
updates given to them regarding various new services.
Chapter 6
RECOMMENDATIONS & CONCLUSIONS
RECOMMENDATIONS
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• Since it is known that customers come on the basis of Invitation from the
service provider, So TCIL should give more focus on personal selling,
advertising.
• Since customers come on the basis of Polite behaviour & response time,
Therefore TCIL employees should always make it sure that the customers
are getting their services on time.
Conclusions
Although TCIL is dealing with a large segment of the market, but still TCIL
has a huge market opportunities.Thomas cook should have more branches in
twin cities.
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BIBLIOGRAPHY:
Website:-
www.google.com
www.thomascook.co.in
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