Business Studies XI Content
Principles of Record Management
1. Principle of purpose
While maintaining the record, the purpose of record keeping should be clear. Records without purpose are a waste of time, labor and money. The purpose of record keeping should not be unsuitable for organization.
2. Principle of verification
There must be evidence of all the documents which are preserved in an office. If the verification is not possible, it has no value as proof in court.
3. Principle of classification
All the records should be classified on the basis of nature of documents. Proper classification of records helps to avoid confusion. It helps in proper evaluation of business performance.
4. Principle of reasonable cost
While maintaining the record, the cost factor should be considered. Therefore, the valuable information should be recorded systematically and useless information should be disposed.
5. Principle of elasticity
The process of record management should be elastic in capacity i.e. it should be capable of being expanded or contracted according to requirement.
6. Principle of retention of records
The main objective of record management is to preserve the required document for future reference. The unnecessary document should be disposed. Therefore, according to value and importance of records should be preserved.
7. Principle of availability
Records are preserved for future reference. It should be protected in such a way that required information should be easily available. The records are useless if they are not available in the current time