PRINCIPLES OF MANAGEMENT

DIPLOMA IN INSURANCE SERVICESMODULE - 1 NotesPrinciples of MANAGEMENT Business Environment 524 PRINCIPLES OF INTRODUCTIONIn earlier chapters you have studied how the insurance sectoris developing in Indian economy and in the present scenarioinsurance sector is one of the promising sectors to provideemployment opportunity. Once you have opted your career ininsurance sector and select any form of organization to do theinsurance business, as discussed in the previous chapter andto run any organization one should have the knowledge ofprinciples of MANAGEMENT . In the following paragraphs theprinciples of MANAGEMENT is being discussing the PRINCIPLES of MANAGEMENT it is to explainthat all industrial or business activities can be classified asfollows:1. Technical activities consisting of production activities consisting of buying, selling activities concerning search for optimum use activities concerning protection of property activities concerning with maintenance ofaccounts including activities consisting of planning, organizing,commanding, co-ordaining and controllingMODULE - 1 Business EnvironmentNotes 53 PRINCIPLES of ManagementDIPLOMA IN INSURANCE SERVICESA lthough industrial or business organizations differ from oneanother in nature.

It means setting the business going to get the desired optimum results from the subordinates. The managers must posses the requisites personal qualities and knowledge to command effectively. The managers must ¾ have a thorough knowledge of his personnel ¾ have capacity to spot the right and competent workers so as to eliminate the incompetent

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