Y Ltd. Is a bank functioning in India. It is planning to diversity into insurance business. Lately, the government of India has allowed the private sector to gain entry in the insurance business. Previously, it was the prerogative of LIC and GIC to do insurance business. But not with liberalisation of the company and to make the field competitive other companies have been given licence to start insurance business under the regulation of 'Insurance Regulatory and Development Authority'.
Y Ltd. 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., esteem and self actualisation as specified by Maslow are met?
d) How can informal communication help to supplement formal communication?

Y Ltd. Is a bank functioning in India. It is planning to diversify into insuance 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 insurnce business. But now with liberalisation of the economy and make to start insurance business under the the regulation of Insurance Regulatory and Development Authority.Y Limited plans to recuit high quality employees and agents and exercies effective direction to capture a substantial part of life and non-life insurace business (a) Idenitify how the company supervise its employees and agents effectively. What benefits will the company derive from effective supervision ? What financial and non-financial incentive can the comapany use for eployees and agents separately to motivate them? What benefits will company get from them? (c) How many the company ensure that higher order needs. i.e., the esteem and self actualisation neds are met? (d) Give a model of formal communication system that the comapny can follow. Identify the barries is this model. How can they be removed?

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