This report deals with the practical application of general principles of management of New Jubilee Insurance. For several years, New Jubilee insurance has been in the business of providing us with a better life; a life of safety and security. Departmentalization occurs in the company in five ways such as functional, geographical, product, process, and customer departmentalization. The company manages its people through establishing core values to be followed across all levels. Their core values include; teamwork, integrity, excellence, and passion. In Jubilee General insurance, effective teamwork certainly does not just happen automatically; it takes a great deal of hard work and compromise. Similarly integrity for the company means being morally correct in all your endeavors. Management of the company divides the employees into cross functional teams. .
These types of teams are useful when this company needs to bring together expertise to solve an issue, or to explore potential solutions. However, setting up a cross-functional team sometimes brings difficulties. But Jubilee General Insurance overcomes these challenges by setting objectives early on, and by getting its team, and key managers, to agree to them. In jubilee insurance cross cultural teams usually perform these tasks, such as; in new product development, in establishing a goal, in working with key stakeholders, and in managing and reducing conflict. We've also done the SWOT analysis of the company. The organization culture includes, low stability, high outcome orientation, high people orientation, high team orientation, high innovation and risk taking. Span of control across the organization maximizes through efficient use of information technology, training, and specific work designs. The management of the company establishes strategic boundaries for the employees to direct their goals within the business goals of the company.
