Abey Francis

Abey Francis, a freelance writer and a professional blogger who enjoys the challenges of creativity and attention to detail. He has published many articles and editorials regarding management on different blogs and online journals. His articles stimulate thinking of corporate managers on key issues of organizations and management. His research interests focus on international management, International trade finance, Investment management, leadership, social capital and knowledge management in enterprises and cross-culture studies.

Henri Fayol’s Principles of Management

Henri Fayol (1841-1925) who is known as the Father of Modern Management, was a French industrialist who developed a framework for studying management. He wrote “General and Industrial Management”. His five functions of managers were plan, organize, command, coordinate, and control.

Classification of Business Activities

According to Fayol, all activities could be classified into

  • Technical (manufacturing or production)
  • Commercial (buying, selling and exchange)
  • Financial (search for and optimum use of capital)
  • Security (protection of property and persons)
  • Accounting (including statistics) and
  • Managerial

Henri Fayol’s Principles of Management

His fourteen principles of management included division of work, authority and responsibility, discipline, unity of command, unity of direction, and subordination of individual interests to general interests, remuneration of personnel, centralization, scalar chain, order, equity, and stability of tenure of personnel, initiative, and esprit de corps (union is strength).… Read the rest

Abey Francis

Relationship Between Verbal and Non-Verbal Communication

The communication process made of  a message being sent and perceived by the others. The message may be verbal or non-verbal. Communication means talking, making friends, interacting with people, having relationships either private life relationships or work related. Communicating with others is essential in leading a normal life. We all communicate in our own way but we need to learn how to do it effectively. Communication has two types, there is verbal communication and non-verbal communication.

The verbal is includes oral communication mean that through words and writing. Verbal communication is divided into written and oral communication. The oral communication refers to speaking words in the communication process.… Read the rest

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The Importance of Non-Verbal Communication

Non-verbal communication refers to all those messages excluding spoken words. Those messages are body language such as gesture, facial expressions, eye contact and body posture. For instance, smile on our friends face on seeing us, before they utter even a greeting word, when we go to meet them after long time indicates that he or she is happy to see us.

Touch is another cue of non-verbal communications. It helps in indicating a person’s feelings or expressions, closeness, and illustrates characteristics of that person. A firm and stiff handshake or warm and lovely hug signify obviously different than a loose one.… Read the rest

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Application of General Rules of Law of Contracts to Life Insurance

A contract of insurance is a contract of utmost good faith technically known as uberrimae fide. The doctrine of disclosing all material facts is embodied in this important principles, which applies to all forms of insurance. The Proposer, who is one of the parties to the contract, is presumed to have means of knowledge, which are not accessible to the insurer, who is the other party to the contract. Therefore, the proposer is bound to tell the insurer, everything affecting the judgement of the insurer. In all contract of insurance, the proposer is bound to make full disclosure of all material facts and not merely those which he thinks material.… Read the rest

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Meaning of Life Insurance and Types of Life Insurance Policies

Life insurance is popularly referred to as life assurance. In the case of life insurance, the underwriter agrees to pay the assured or his heirs, a certain sum of money on death or on the happening of an event dependent upon human life in consideration of premiums paid by the assured.

Section 2(11) of the Insurance Act, 1938 defines Life Insurance business as follows: “Life Insurance Business” is the business of effecting contracts of insurance upon human life, including any contract whereby the payment of money is assured on death (except death by accident only) or the happening of any contingency dependent on human life and any contract which is subject to the payment of premiums for a term dependent on human life and shall be deemed to include:

  1. The granting of disability and double or triple indemnity accident benefits if so provided in the contract of insurance.
… Read the rest
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The Insurance Regulatory And Development Authority (IRDA)

Insurance Regulatory and Development Authority (IRDA) is regulatory and development authority under Government of India in order to protect the interests of the policyholders and to regulate, promote and ensure orderly growth of the insurance industry. It is basically a ten members’ team comprising of a Chairman, five full time members and four part-time members, all appointed by Government of India. This organization came into being in 1999 after the bill of IRDA was passed in the Indian parliament.

The creation of IRDA has brought revolutionary changes in the Insurance sector. In the last 10 years of its establishment the insurance sector has seen tremendous growth.… Read the rest

Abey Francis
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