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HDFC Assignment

The document discusses the core values that HDFC, an Indian financial services company, has upheld since its founding nearly two decades prior. It states that HDFC was built on principles of fairness, kindness, efficiency and effectiveness. The company institutionalized practices to live by its articulated values and principles of building long-term, mutually supportive relationships with employees, investors, depositors, borrowers, and regulators. The core values discussed include integrity, honesty, commitment to serving society through business, customer service, learning from experience, developing people, supportive leadership and teamwork, and open communication.

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Prachi Jain
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156 views1 page

HDFC Assignment

The document discusses the core values that HDFC, an Indian financial services company, has upheld since its founding nearly two decades prior. It states that HDFC was built on principles of fairness, kindness, efficiency and effectiveness. The company institutionalized practices to live by its articulated values and principles of building long-term, mutually supportive relationships with employees, investors, depositors, borrowers, and regulators. The core values discussed include integrity, honesty, commitment to serving society through business, customer service, learning from experience, developing people, supportive leadership and teamwork, and open communication.

Uploaded by

Prachi Jain
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as RTF, PDF, TXT or read online on Scribd
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From values to Action The 1996-97 Annual Report of HDFC carried the following statement in its introduction: This

year for the annual repot, we have choosen to underline some key principles HDFC has adopted and maintained for nearly two decades of its existence. They constitute the ' core value' that we hold dear- values that are not subject to compromise and reinterpretation as the environment changes around us. They are immutable and true through time and circumstances..... Core values are the basis of a vision, they do not constitute it..... Visions can be wrong hopelessly off the mark if they are not born from strong values.... Values without principles are hollow.... Principles from the immutable and unchangable core of right action.HDFC from its very first day of operation has built a principle-centred organisation. By this we mean.... an organisation that has been built on the basis of fairness, kindness, efficiency and effectiveness. While assertion such as these are not unusaul in corporate annual reports and publicity brochures, what set HDFC apart was that it had institutionalised a set of practices so as to live by the values and principles that has been articulated by its founder. At the heart of these practices lay the company's firm commitment to building long-term, mutually supportive relationships with all its key constituencies- its employees, investors, depositors, borrowers and regulators. Corporate Values and Culture

Above all, we value integrity, honesty of purpose and commitment to the interests of the
organisation. To HDFC, business is not merely earning profits, but a way through which we provide essential and valuable services to society. 'Customer Services' is the key activity in our operations. This is reflected in our promptness and caring attitude towards our customers. A positive and personalised approach to our customers's need is what we have always strieved to attain. We adopt a 'Learning by Doing' philosophy which encourages decision making as well as learning from the process of doing. The philosophy demands feedback and a tolerance of constructive criticism. people are our most important resources. it is our intimate concern to continously develop them. We appreciate good inter-personal relationships and supportive leadership, coupled with strong teamwork both within and between departments. We believe in smooth and effective communication to ensure better flow of information and understanding amongst employees at all levels.Every employee can meet any executive for airing personal grievances, giving suggestion or putting forth any creative idea. This' open door' policy has resulted in a very open and informal culture. our approach to discipline is reformative and not always penal.Emplyees are expected to adhere to rules and regulations as laid down from time to time.

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