Question 14 Marks
Y Ltd. is a bank functioning in India. It is planning to diversify into insurance business. Lately, the government of India has allowed private sector to gain entry in the insurance business. Previously, it was the prerogative of LIC and GIC to do insurance business. But now with liberalisation of the economy and to make to start insurance business under the regulation of Insurance Regulatory and Development Authority. Y Limited plans to recruit high quality employees and agents and exercise effective direction to capture a substantial part of life and non-life insurance business.(a) Identify how the company can supervise its employees and agents effectively.(b) What financial and non-financial incentive can the company use for employees and agents separately to motivate them?(c) How can the company ensure that higher order needs, i.e., the esteem and self actualisation needs are met?(d) Give a model of formal communication system that the company can follow. Identify the barriers in this model. How can they be removed?
Answer
View full question & answer→(a) Company can supervise its employees by appointing a supervisor as supervisors gui efforts of their employees and other resources to accomplish the objective of organis
(b) Self
(c) Self
(d) The most suitable model of formal communication system that the company can is free flow. In this network each person can communicate with others freely. The communication is fast in this network.
The common barriers in this model are:
1. Semantic barriers
(a) Badly expressed message
(b) Symbols with different meanings
art: A Principles and Functions of Management
(c) Faulty transactions
(e) Technical jargon
2. Psychological barriers
(d) Unclarified assumptions
(f) Body language and gesture decoding
(a) Premature evaluation
(b) Lack of attention
(c) Loss by transmission and poor retention
(d) Distrust
3. Organisational barriers
(a) Organisational policy
(b) Rules and regulations
(c) Status difference
(d) Complex organisation
(e) Organisational facilities
4. Personal barriers
(a) Lack of confidence of superior in his subordinates
(b) Lack of incentives
(b) Self
(c) Self
(d) The most suitable model of formal communication system that the company can is free flow. In this network each person can communicate with others freely. The communication is fast in this network.
The common barriers in this model are:
1. Semantic barriers
(a) Badly expressed message
(b) Symbols with different meanings
art: A Principles and Functions of Management
(c) Faulty transactions
(e) Technical jargon
2. Psychological barriers
(d) Unclarified assumptions
(f) Body language and gesture decoding
(a) Premature evaluation
(b) Lack of attention
(c) Loss by transmission and poor retention
(d) Distrust
3. Organisational barriers
(a) Organisational policy
(b) Rules and regulations
(c) Status difference
(d) Complex organisation
(e) Organisational facilities
4. Personal barriers
(a) Lack of confidence of superior in his subordinates
(b) Lack of incentives