MANAGEMENT

Though there are different orguement about origin of insurance its present form is assumed to be started form 12th century marine insurawnce is the oldest and orginal form of insurance in ancient times when when most of the international trade was done through sea route to mainimize risk on the transit concept of insurance was born general average and bottomry bond are two different from of initial marine insurance
fire insurance is another from of insurance conceptudize after great fire happenning in london in 1666 life insurance started form 18th century during 19th century and then after other forms of insurance like ficlelity insurance accidental thift crop etc were develop.

Insurance is based on principle of cooperation even before starting of formal insurance people from certain society and group used to collect some fonds to help the needy member of their group who suffers form some kind of financial losses this concepts of cooperation prevails insurance collects premium from the incurred and compensates the loss of any of the members form the collected premium hence its based on cooperation for mutual benefits.Insurance is base on principle of probity insurance premium which is determined in advance is based on this principle premium amount is determined considering the changes of loss since the degree loss depends upon various factor the avouching factors are analyzed before determining the amount of loss for example higher the age of people higher the changes  of death higher the changes of loss higher the premium.

On the basis of involvement of person in deciding making decision are classified as individual and group decision if single person is involved in decision making process it is individual decision for this purpose individual has to use his personal knowledge skill idea to take decision generally proprietors to sole trading concerns and autocratic leaders take such type of decisions
In group decision a group of people person are involved in decision making process such decisions are taken in in IMO stock companies partnership firms cooperative organizations etc in such decision group of people come into discussion and finally take a decision through mutual consent generally group decision made for unique and creative nature of subject matter

                 Delegating authority does not mean that responsibility also has been shifted from one person to another person.Responsibility assigned to a staff is fixed and absolute an executive can delegate authority to subordinates making the subordinate responsible for the assigned task however final responsibility remains with the executive
 according to this principle there should be balance and parity between authority and responsibility of a staffs higher the responsibility authorial without or less responsibility may create probability of authority misuse and responsibility without or less authority creates problems in performance
this principle everybody should take the decision up to their level of authority provided to him or her if staffs have to take only decision or have to perform any task that is out of their authority they should talk to their superior and act accordingly like wise senior also should not get involve in the activities for which authority is delegated to his or her Junior

Pure endowment policy insurance amount is paid only after maturity of insurance period but to get the claim should be alive if policy holder dies before maturity period insured amount is paid to non this policy is suitable for those who do not have dependents or who do not want any others to get the insurde amount after their death.
doubb endoement is after maturity of insurance period is if the policy holder is alive double of insured amount is paid howefer if the policy holder dies before  maturity the dependents get the basic insureance amount generally premium amount is comparitively high .
ioint life endowment is covers more than one life premium amount is calculated considering age of involved persons and insured amount is paid on maturity of after death of any of the insuraed person

Routine decision is related with day to day operation of the organization in regular activities of the organization such decision should be taken generally lower level management takes such types of decision exchange of  work between co workers repair and maintains of machining amiability of raw material are the example of routine decision generally such decisions are repetitive in nature.Basic decisions are necessary for long run survivable and growth of business generally top level managers are responsible for such type of decision to take such decision creativity and detail study of the matter is essential the example of such decision involves expansion of business investment of extra capital replacement of plant and machines .
Organizational decision is formal decision which is taken considering the goal of the organization besides the decision maker has to fulfil all the official procedure and official authority to takes the decision according to requirement and situation decision making authority can be delegate to other officials
personal decision is informal decision taken considering personal interest such decision do not affect regular performance of the organization personal decision can not be delegated to other deciding to get voluntary retirement not seeking promotion etc are the example of personal decision.

In whole life policy the insurance is effective for the whole life of assured in this policy insured amount is paid only after death of the insured the nominee or dependent of the insured will be paid with insured amount whole life policy can be classified as follow es

ordinary whole life insurance policy

in this policy the insured should pay the premium for life time after death of the insured insurance amount is paid to the beneficiary nominee of the insured policy holder does not get the policy amount as insurance company will be liable to pay the insurance amount after death of policy holder .

limited payment whole life policy

in this policy the premium amount is paid for a certain period of time but the insurance company provide s life time protection premium rate is higher for this types of policy compared to ordinary whole life policy policy amount is paid to the dependent of the police holder.

convertible whole life policy

in this policy holder has a option of converting this policy to any other types of life insurance policy after certain time period normally policy holder convert their whole life policy to endowment policy if they have option to convert the policy.

endowment life insurance policy
insurance is done for certain period and the insurance amount is paid after maturity of the period of after death of the policy holder which ever is earlier endowment policy can divided as follows

In this policy insurance amount is paid only after maturity of insurance period but to get the claim should be alive . If policy holder dies before maturity period insured amount is paid to non this policy is suitable for those who do not have dependents or who do not want any others to get the insured amount after their death. In this policy after maturity of insurance period if the policy holder is alive double of insured amount is paid however if the pollicy holder dies before maturity the dependents get the basic insurance amount generally premium amount is comparitively high for this policy . this policy covers more than one life premium amount is calculated considering age of involved persons and insured amount is paid on maturity or after death of any of the insured person.

 Fire insurance is a contract between insurer and insured to indemnify loss of property due to fire and other reasons as it is involved in insurance contract for this purpose insurer changes certain rate of premium fire insurance is also known as insurance of indemnification.
the necessary of fire insurance was felt for the first time in England in 1666 when one third of house of London city were destroyed by a great fire at present it becomes one of the most important parts among other insurance policies .
According to v.r. bhusan and prof. r.s. sharma Fire insurance is an agreement for a consideration undertakes to the indemnify the other party against financial loss which the latter may sustain by reason of certain deadlined subject matter being damaged or destroyed by fire or other defined perils up to an agreement amount.
After completion of essential documentation and payment of first installment of the premium insurance company issues insurance policy certificate to the assured insurance policy certificate is issued to insured through post office or any other means insurance policy certificate contains name of policy holder sum assured number and amount of premium installment maturity period and other information after accepting insurance policy insurance also takes the risk of financial compensation.

Life insurance is a contract where by the insurer agrees to pay certain amount to the assured or his dependent nominee on maturity of the contract period or on the death of assured in the consideration of certain amount paid by the as sued as premium life insurance is suppose being started during 18th century life of human being is uncertain a man may die at any time or may meet with serious accident which disables the person form doing regular job or from earning money in the both cases the person or the family may suffer financial crises life insurance provides financial security to those people however it is not a contract of indemnity
For life insurance of a person insurances companies design different types of insurance policies with different features and benefits for easiness to understand life insurance policies can be categories in different types those policies can be classified on the basis of premium payment method number of lives covered method of claim payment participation on profit and duration of policies widely accepted classification which is based on duration of policies is as follows
1. Whole life policy.
2. Endowment policy.
3. Term policy.

Authority means the right provided to staffs to perform certain task to make dedcisions to direct other staff to perform certain task it is related to position and person since people working in certain position may be changed the authority is assigned for a position however the level of authority may different the basis of the still and capacity of a person having certain position authorily is provided to the staffs from the management or broad of directors so it flows downward the authority can further be delighted to other staffs as well manager should be clear about the rules regulation and procedures of the organization so that they can properly use their authority it is based on orginational hrrecly higher level managers have higher authority and vice versa
Responsibility is known as obligation to perform certain assigned task in an effective way if a staffs is assigned certain task he/she should be responsible towards his her superviser is duty as well as obligation to complete assigned task it is personal obligation which can never be delegated to others a manager can delegated his authority but not his responsibility responsibility flows up ward from subordinatees to supervisers responsibility is personal and cannot be vested in organizational position responsibility arises only when a duty has been assign and authority has been delegated by a superier to subordinate according to gerge r tetty responsibility is the obligation to carryout assigned activities to the best of his abilities.

Delegation of authority means an act and process of providing authority and power by supering to the subordinate to perform certain task management is known as art of getting things don't from others so management has to get the things done form the subordinate for subordinate to perform certain task they should be provided with sufficient Rights to perform the task assigned to them in delegation assignment of works is done along with the authority to perform the work delegation of authority provides responsibility and authority to a prison making him or her accountable for the performance.
according to fg More delegation means assigning works to others and gives them authority to do it , delegation of authority is the downward process a superior does not provide his her full authority to subordinates only partial authority is delegated while delegating the authority authority should match with the responsibility however a manager can not escape form his responsibility by delegating authority to the sub ordinates the managers who delegate the authorities has right ti outdraw reduce or add more  authority to the subordinate whenever found reasonable.

An organization should get various activities done through its staffs to achieve the organizational goals the activities differ on the basis of nature process procedure skill required timings etc if a staff or a group of staffs tries to perform all the activities at a time they cannot perform effectively sometimes some task they have equal importance and may required equal priority so it is as very essential to classify the activities of the organization logically into some manageable units the process of grouping of action into smaller manageable unit is called departmentation
Departmentation facilitates over all coordination of the activities and optimum utilization of organizational resources it provides advantage of specialization of work in the organization it increases operating skills and efficiency of an enterprises it is one of the primary task in designing an organizational structure it is a process where task are group into jobs , jobs into effective work group and word group into identifiable segment or department it helps for effective control supervision coordination between organizational activities . this is one of the commonly used basis for departmentation according to this basis de4partments are establish on the basis of the nature of the functions to be performed in the organization like finance production marketing human resources a Marjory function can farther be divided into sub function if required a team along with specialized department head is assigned responsibility of a department it focuses on specialized department head is assigned responsibility of a department if focused on specialization .

Line organization structure is the oldest and simplest from of organizational structure under this structure all measure decision are made by two executives each subordinate is responsible to senior subordinates authority flows vertically downward from top to bottom. exports and specialist are not tried to suggest the management . no department head can directly issued order or instruction to subordinate of another department this structure was firstly used in army so it is also known as military organizational structure.
Pure line structure under this structure all the staffs of one level preformed same  or similar work but different lines are created even in same level for effective control and supervision for example in a production department of company all staffs may performed same task but to control them same foreman can be assigned supervisory work but workers working under different Foreman perform same task the pure line structure can be presented as follows
Under departmental line structure workers are divided into different department a department head is appointed to each department within the department task are categories on the basis of their natural and process then different supervisors and foreman are appointed under the department head who directly orders and supervises activities of Junior staffs department head of one department cannot issue order to subordinate of another department  the organization structure of departmental line organization .

Organizing is one of the important function of management. organizing can be define as a process as well structure as a process organization is known as a process related too identification and grouping of the task to be performed to achieve the organizational goal delegation of authority and responsibility it accumulates all the human psychical financial and other resources together and  creates a productive relationship among all the resources and the objective of the organization it firstly identifies all the task to suitable staffs staffs are given authority and are responsible for the job performed by them it coordinate among different group activities and objectives by establishing good relationship among them.
As a structure organizing is known as a structure which shows the relationship among various job position of the organization it specifies the division of work in the relationship between different activities it aerates the organizational hierarchy which defines authority responsibility and reporting chain the organizational structure has a pyramid shape it shows there are few people in top level and many subordinates in lower level staffs in higher level have more authority and voiceless it also defines rules and regulation of the organization , according to Roman organizing is the process of defining and grouping the activities of Enterprise and establishing the authority relationship among them.

Planning means looking a head and determining future course of action which should be followed to achieve or desired result it is one of the important function of management it is about deciding in advance what to do how to do when to do etc. It is an intellectual process which determines objective to be achieve in future and selects the best alternative course of action to meet defined objective it is rightly said well plan is half job done therefore planning takes into consideration of available and required human physical and financial resources of the organization and contribution.
According to the Haman planning is deciding in advance what is to done planning bridges the gap between where we are and where we want to go it makes passable things to course which would not otherwise occur. It involves various activities like determining organizational objective identifying alternative course of action and selecting best course of action as well as implementation of the beset objective.
Every plan are made to achieve certain goals plan without any goal or objective does not makes any sense objective provide the basic guideline for planning activities all member from top level to lower level concentrate to implement the plan to achieve the goals plan are made.

Decision making is management function it is the process of selection a course of action out of many alternatives it is necessary to learn organizational activities for smooth operation and to gain defined objectives. In course of regular operation many problems may arises in the organization those problems may creates disturbance in organizational performance thus management has to solve the problems in in best possible ways likewise organizations should make many decision for future growth expansion and success of the organizations. the success of organization.
Planning is consider as important function of management it is about pre-determination of goals and future course of action which should be followed to achieve the objective it is an art of pre-ducting and deciding future activities to achieve long term as well as short term goals to prepare plans one should consider past and present situations as  well as future changes following activities are performed by a planner .

Electricity is the most valuable things which are used in our daily life. without electricity we cannot imagine our life. It has many advantages in our life which leads our life successful. It is use in computer , T.V. , light, radio, fan, factory there are uncountable useage of electricity .
Electricity is most dangerous things if we cannot utilized in proper way.if we touch the naked wire it give shock to us and it is very dangerous. any of the people are died from this electricity shock. in everythings have advantage and disadvantage so we must be very careful while using the electricity.
Electricity is in frastuctare of development of country. it has the great important role in smooth development of country. it is generated from the fast flowing rivers. so electricity is the most important past of our world.

Computer is an electronic diveces which process and stores large amount of data. the invention of computer is Charles Babbage. this is the age of computer in which, we can know every things. it is used in discovery of science and technology widely in the world.
Computers are useful in the modern age they are widely useful for, office, school, bank, administrating office, universities etc. they are the most effecting mean of communication information and entertainment. we can play the games, listen to music, watch movies, type letter etc.
with the help of computer.
computers provide many facilities which are highly beneficial for us. students can learn a new techniques of study with the help of computer.
Computer can be highly used in the field of aviation as well. aeroplane , satellites can also be controlled by the help of computer in order to control the roborts we need computer so its is the most important things for the world. we cannot imagine the world without the computer. in this new generation.

F.w. Taylor is known as father of scientific management his carer was started as a mechanic and at the age of 28 . He became chief engineer in middle steel company in  Philadelphia in USA.
Taylor deviled his his time in developing nonscientific management theory his primary focus was on efficiency of workers and optimum utilization of resources for success of the organizations which work for the benefit of entrepreneurs labors and consumers
while working in different companies he saw disorder and wastage of resources and felt need tofu elating wastage as a manager he noticed that the enterprises were managed by the rule of thumb and resources were not fully utilized there was no proper division of responsibility according to him management has to modify rules and procedures according to requirement and types of workers there must be clear and vision for the completion of word fw Taylor has developed following principle for strategic management.
Scientific management focuses on replacement of old and traditional rule of thumb approach scientific management is based on observation and analysis of work and determination of standard of work Taylor stressed on research and study to develop new management method

Scientific management is known as attitude and phicoshopy which focuses on development and implementation of problems solving approach traditional method of management was focus on trial and error method of performing organizational activities scientific management concept has been develop to replace old concept. It follows certain procedure and principles to perform managerial activities scientific management includes ecperiment collection and annalysis of data investingation and resesarch formulation of certain principle etc. It focuses on conducting business activities using standardlized tools methods and trained employees to increase output and reducer the cust
  Principle of scientific management involves various scientific methods like observation measurement experimentation enterference and management specilist who specilize on development and use of scientific methods to find outsolution of the problems
according to FW taylar scientific management means kn owing exactly what you want from men to do and seeing that they do in the best and cheapest way. to increase production tate by the uses of standardilizer tools equiprnents and methods
to improve output qualities by research inspections quality control  reduce production cost by rational planning regulation and control . eliminate wastage rewsources and time promote cooperation between management and workers increase efficiency of workers using suitable wage payment system  place right person on right job at right time

Management function is getting complex and difficult day bay day. In the competitive field for the managers to manage their organization in effective way they need some guidance suggestion etc principle of management means the systematic guidance suggesting framework which helps management to achieve desired goals afferent scholars have contributed for development of management.
Principle of management have universal application they are applicable for any kind of organization . It e dynamic and influences human behaviours management principle established cause and effect relationship those principles help to increase efficiency and to understand business practice management principles trains the managers help indecision making and guide for research and it highlight the role of management. For effective decentralization organizations required many processionals who should be paid high remuneration so due to high cos of decentralization's only the organizations who can bear the cost prefer decentralization but small organizations with minimum financial resources cannot follow decentralization of authority

Management as  a discipline can be understood as a branch. It is a specialied knowledge which give idea regarding the study and use of certain principles laid down by the management  with the increased competetation in the business field, management of any organization should have knowledge about managerial skill for which study of management is essential like other discipline such as economic mathematic sciences etc.
management also have been developed as separate discipline which is being taught in different called and university across the world. The management system of today may not be applicable of effective after certain duration of time therefor management must be dynamic and flexible with the changing environment of the society, it should be flexable according to time and situation  and need of the society. this flexibility is essential to adjust an organization and its activities with the changing knowledge, skill, scientific, discoveries, ideas and environment of the business.
Management is both science and art . it is science because it is based on some basic principles of universal application. it is also and art because the results of an organization depend upon the personal skill efficiency and experence of manager and his subordinates

As a process management is the process of converting input into output thorough various interrelated functions like planning organizing, staffing, directing and controlling. It is process of ding the activity which are performed by the organization goal of an organization through the work done by the staff,
this concepts of management focuses on all the activity that should be performed by the managers and their subordinates. managers have to communicate without and subordinate managers have to make decision to solve problems or for better performances .They after motivate staffs to give their full efforts for effective performances, so  management can be defined as a set of activities like communicating decesion making maintaining inter personal relation to acheive organizational goal.

Each and every organization are established to achieve certain goal with the use of certain resources by performing certain activity in effective and efficient way. Management is the process of getting things done by other people . It is a set of activity like planning organization, leading and  controlling which are directed at an organizations resources like human resources, financial resources, physical resources informational resources with an aim of achieving organizational goal.
It focuses on utilization of group effort in the attainment of common goal and objectives. the word management can be divided into three word as management this means managing men totally.
There are different views about management. It can be defined as a noun or group as a process, as a discipline and as an activity.

      Management as Group

  From the noun aspect management refers to the group of managerial staff of an organization engaged in formulation of organization engaged in formulation of organizations plans policies and supervising as well as controlling the task of subordinates, board of directors, management committee, manager, department heads etc represents as management of any organization depends on managerial skills of those staffs.