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Question
Find the odd one.
Principle of Authority and Responsibility, Principle of Division of Work, Principle of Discipline, Principle of Indemnity.
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Solution
Principle of Indemnity.
Explanation:
- The principle of indemnity is a concept from insurance which states that the insured should not profit from an insurance claim but should be restored to approximately their financial position before the loss.
- The other three – Principle of Authority and Responsibility, Principle of Division of Work, and Principle of Discipline – are management principles, particularly from Henri Fayol’s 14 Principles of Management.
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Match the correct pair:
| Group 'A' | Group 'B' | ||
| (a) | Principle of Unity of direction | (1) | Right to information |
| (b) | Planning | (2) | Last function of Management |
| (c) | Warehousing | (3) | Distinct Name |
| (d) | Consumer Right | (4) | One head one plan |
| (e) | Registered brands | (5) | Seller |
| (6) | Basic function of management | ||
| (7) | Time Utility | ||
| (8) | General guidelines | ||
| (9) | Trademark | ||
| (10) | Place Utility | ||
