Strategic Management of Aviva

This document provides a detailed analysis of the strategic management of Aviva PLC in the insurance marketplace. It includes a competition analysis, present business strategy, implementation of strategic business choices, and a SWOT analysis. The document focuses on Aviva's joint venture with Tencent in Hong Kong and its impact on the internal business environment.

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Strategic Management of Aviva

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Table of Contents
1.0 Introduction................................................................................................................................3
2.0 Competition Analysis of Aviva Insurance.................................................................................3
2.1 Application of Theoretical Framework: Porter’s Five Forces Analysis................................3
2.1.1 Limitations of Porter’s Five Forces Model.....................................................................5
3.0 Present Business Strategy of Aviva PLC...................................................................................5
4.0 Implementation of Strategic Business Choices: Joint Venture..................................................6
4.1 Internal Business Environment: SWOT Analysis (Strengths and Weaknesses)...................7
4.1.1 Benefits (Strengths)........................................................................................................8
4.1.2 Challenges (Weaknesses)...............................................................................................8
4.2 External Business Environment: SWOT Analysis (Opportunities and Threats)...................8
4.2.1 Benefits (Opportunities).................................................................................................8
4.2.2 Challenges (Threats).......................................................................................................9
4.3 Potential Impact on Customers..............................................................................................9
4.4 Minimising the Impact of Organisational Strategic Planning.............................................10
4.4.1 Internal Environment (Weaknesses).............................................................................10
4.4.2 External Environment (Threats)...................................................................................10
5.0 Future Strategic Business Plan: Cost Leadership Business Model.........................................10
5.1 Implementation....................................................................................................................11
5.2 Monitoring...........................................................................................................................11
6.0 Conclusion...............................................................................................................................12
Reference List................................................................................................................................13

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1.0 Introduction
The strategic planning of an organisation comprises of a series of activities that tends to identify
and develop suitable business operational gaols within its present resource capability (Smith,
2013). It also ensures that each and every individual involved with the organisational operations
are taken into consideration before going ahead with developing the strategic business goals. The
process is very important as the future operational scope of an organisation is largely dependent
on its strategic business planning.
The following paper provides a detailed strategic planning of the British organisation Aviva PLC
operating in the insurance marketplace of the country. It tends to perform a detailed analysis of
the strategic choices made by the organisation with the help of strategic management theoretical
frameworks. Furthermore, the competitive business landscape of the organisation is identified in
the UK followed by recommending a suitable strategic action plan to implemented by Aviva
PLC in the near future. The recommendations have been provided in accordance to the
information successfully gained from the entire analysis thereby made in relation to Aviva PLC
and its implemented strategic options.
2.0 Competition Analysis of Aviva Insurance
A detailed analysis of competitors looks forward to help organisations in gaining a detailed
knowledge on the operational marketplace in which it is presently operating along with others
(Wu and Zhnag, 2014). The results obtained from competition analysis is critical to developing
suitable business strategies in the near future. A detailed analysis of the competitive business
environment of Aviva PLC in the UK marketplace is done using a strategic theoretical
framework.
2.1 Application of Theoretical Framework: Porter’s Five Forces Analysis
A holistic strategic management framework, Porter’s Five Forces tool is largely used for the
purpose of analysing the degree of competitive forces existing in the marketplace (E. Dobbs,
2014). The tool is being largely used for the purpose of identifying how Aviva PLC deals with
the competitive forces widely prevalent in its operational marketplace of the UK as well as
further look forward to gaining high degree of competitive advantage.

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Threat of New Entrants: The entry of new firms in the insurance marketplace of the UK exposes
Aviva PLC to the threats associated with bringing in innovation as well as incorporation of new
and advanced ways of operating. In such a situation, the organisation is left with no other option
rather than develop a low pricing strategy, reduce the presents cost as well as look forward to
delivering new and innovative value proposition to its customers (Lee, Kim and Park, 2012).
Each of these aspects are critical for Aviva PLC to successfully retain its position amidst the
competitive forces and enjoy high degree of competitive advantage. Thus, it can be said, that the
competitive force exhibited by new firms entering the insurance sector of the UK exhibits
moderate threat on the operational activities of Aviva PLC.
Bargaining Power of Customers: The threat imposed by customers of insurance sector seems to
be very high due to the low switching costs associated with shifting from one brand another.
Customers are always found to look forward to the most cost-effective business operations, as a
result of which they continuously switch brands. This results in Aviva PLC to experience
immense difficulty in its profit earning capacity as well as capability. The small and powerful
customer base of the organisation is likely to impose greater bargaining power on the
organisational operational activities (Berry‐Stölzle, Hoyt and Wende, 2013). In such a situation,
the customers are found to exhibit interest towards brands that offers huge discounts and offers
on insurance. Therefore, it can be said that the high bargaining power of customers is found to
impose immense difficulty and threat to its smooth functioning in the insurance marketplace of
the UK.
Potential Forces Created by Rivalry: The small and medium scale insurance market place of
Aviva PLC is highly competitive in the UK with the presence of a large number of organisations
trying to gain competitive advantage over others. The relative position of one brand varies from
another in the competitive marketplace, in terms of their operational scope and number of
customers varying across the micro as well as small and medium scale enterprises. The
competitive force experienced by Aviva PLC is largely determined which of the organisations
are able to win over its brokers and which one of the organisations establishing themselves with
the small and medium scale operational activities with high degree of force and effectiveness.
The closest competitor of Aviva PLC comes from AXA in the UK insurance sector along with

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other organisations like Allianz, Bupa, AIG, Barclays, Lloyds, Direct Line and Hiscox (PR
Newswire Association LLC., 2019).
Bargaining Power of Suppliers: A large number of suppliers are available to cater the raw
materials required for the purpose of operating in the insurance (Biener and Eling, 2012).
However, suppliers enjoying a dominant position in the marketplace looks forward to severely
decrease the operational margins that Aviva PLC looks forward to gain from the market.
Furthermore, the situation is worsened due to a section of powerful suppliers operating in the
financial marketplace, that intends to make effective use of their negotiation power and thereby
successfully extract very high prices from the firms operating in the marketplace (Coccorese,
2012). The high bargaining power enjoyed by the suppliers is likely to reduce the overall profit
earning capacity of Aviva PLC significantly. Thus, the increased threat associated the high
bargaining powers of suppliers seems to impose adequate degree of difficulty on the operational
activities of Aviva PLC.
Threat of Substitutes: The threats to insurance products being sold by Aviva PLC comprises of
bonds, mutual funds, shares and equity funding. The threats exhibited by each of the products is
found to be significant when they tend to offer more return to the customers than insurance
products in the long run (Klein, 2013). The customers tend to shift their focus from insurance to
other financial funding when Aviva PLC fails to innovate its service and product offerings along
with the promise of greater return in the near future. Although the threat from substitute products
seems to be low, yet the organisation must ensure that its products are capable of retaining the
interest level of the customers and satisfy them with offering greater return on the investment
made.
2.1.1 Limitations of Porter’s Five Forces Model
The model tends to offer a wider knowledge of the competitive forces existing in the
marketplace in accordance to the business operational activity of the entire industry in which the
selected organisation is operating (Burns and Dewhurst, 2016). As a result, the details gained
from this tool can only be used for the purpose of developing short term strategic business goals
by the organisation for the purpose of dealing with its competitors. Furthermore, the tool
considers the marketplace to be a perfect one. Therefore, the information gained from the process
would have helped largely in developing future competitive strategies of Aviva PLC, if the entire

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focus would have been on the operational scope of the organisation itself rather than the entire
insurance industry of the UK.
3.0 Present Business Strategy of Aviva PLC
The present business strategy of Aviva PLC looks forward to ensuring that it exhibits high
degree of diversification in relation to proving growing cash and profits to its customers. The
long-term business operational activities of the organisation look forward to successfully go
ahead with digital revolution of the insurance industry in relation to providing immense benefits
to its customers, business partners, employees as well as shareholders (Aviva, 2019a). The
organisation strongly believes in successfully accomplishing the business vision relating to
successful delivering of its core promises associated with consistent, appropriate as well as
reliable growth in profit along with delivering high degree of satisfaction to the customers.
The operational strategic framework of Aviva PLC focusses on undertaking activities that tends
to provide a clear and transparent direction to operate in each of its diversified business locations
all over the world. The organisation has looked forward to delivering its customers with a wide
range of insurance products, life, accident, health, insurance as well as asset management. It
successfully holds the position of a composite insurance service provider in the UK.
Furthermore, the organisation has successfully inculcated its business operational activities with
digital tools and technologies. The technologies are largely being used by Aviva PLC for the
purpose of capitalising on the breadth of its product and service operational scope to its
customers. The busy schedule of customers has made the use as well as consideration of digital
technologies to be of immense significance in the present business environment (Aviva, 2019a).
As a result, the digital marketing scope of the organisation tends to provide faster, convenient as
well as quicker service solutions to its customers, which in the log run results in them to
experience high degree of brand loyalty and advantage in the competitive business landscape.
Furthermore, the strategic business framework looks forward to ensuring that the product and
service scope of the organisation relies within the capability of its resource and capabilities. In
doing so, the organisation is largely able to deliver best to each of the product and service
operational endeavours undertaken by it (Aviva, 2019a). It has thereby resulted in Aviva PLC to
select the operational marketplace as well as products that are capable of delivering excellent
opportunities, scope and profitability along with a distinctive competitive advantage.

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4.0 Implementation of Strategic Business Choices: Joint Venture
A detailed analysis of the strategic business choices made by Aviva PLC is done by taking a
deeper insight into the expansion initiatives that the organisation took into consideration for the
purpose of disrupting the widespread prospects available within the Asian marketplace. The UK
based insurance service provider in relation to its international expansion went ahead with
establishing business tie-ups with the Chinese digitally operated private equity funding
organisation Tencent Holdings. The joint venture business relationship in between the two
organisations was done to exploit the immense prospects available in the Chinese marketplace
using online medium. The business operation of Aviva PLC in the country is recognised as
Aviva Hong Kong (He, 2018). The joint venture business arrangement allows two or more
business organisations to share individual resources for the purpose of accomplishing a business
objective (Killing, 2013). Likewise, Aviva and Tencent went ahead with making effective use of
each other’s business prospects, strengths, capabilities as well as resources for the purpose of
mutual benefit. It allows both the organisations to maintain each other’s operational
independence while agree upon certain that are integral to successful accomplishment of the
primary business operational objective being taken into consideration (Beamish, 2013).
The joint venture business relationship between Aviva and Tencent looked forward to severely
exploit the Hong Kong insurance marketplace with a digital operational platform, easy and
convenient to use for the customers along with a zero-commission policy. It allowed the
customer residing in China to successfully buy term life insurance policies as well as those
relating to critical illness using the online medium in a comparatively easier and convenient
manner. The joint venture business deal on between the two organisations was of immense
significance in overcoming the widespread presence as well as influence of a large number of
intermediaries who works on a commission basis (Aviva, 2019b). It allowed the customers to
directly interact as well as coordinate with the customers through the digital platform and buy
insurance products as per their convenience, without any external interference. The collaborative
joint venture operational activities of the two organisations was recognised as Blue in Hong
Kong.

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4.1 Internal Business Environment: SWOT Analysis (Strengths and Weaknesses)
The strategic management framework, SWOT analysis is used to determine the relative
competitive position and ability of an organisation in the present marketplace (Wheelen et al.,
2017). The tool is used for the purpose of successfully analysing the joint venture business
prospect of Aviva PLC with Tencent in Hong Kong. The following section has undertaken the
SWOT tool for the purpose of identifying the benefits as well as limitations of the strategic
business choice within its internal business environment in the form of strengths and
weaknesses:
4.1.1 Benefits (Strengths)
The most significant advantage associated with a joint venture business process is that it tends to
allow organisations make effective use of individual resources for the purpose of gaining
immense operational effectiveness in the future (Sun and Lee, 2013). Likewise, Aviva PLC also
made effective use of the widespread customer base of Tencent in Hong Kong so as to increase
the sales prospects of its insurance products in the new operational base. Furthermore, the
products taken into consideration were very simple and the process governing customer
registration to one of them was very simple and convenient. The high degree of operational
flexibility offered by the digital operational process made immense changes to the lives of
customers and their long-term insurance policy investment ventures (Ertug et al., 2013).
4.1.2 Challenges (Weaknesses)
A notable disadvantage associated with the joint venture business operation is that it does not
provide adequate degree of liability to each of the organisations involved in the process (Klijn et
al., 2014). Likewise, Aviva PLC and Tencent too suffered from some form of obligations as well
restrictions in relation to operating in a collaborative manner in Hong Kong using the digital
platform. Furthermore, Aviva PLC has made several compromises as it went ahead with fitting
itself within operational scope of Tencent to start operating in a completely new business
environment.
4.2 External Business Environment: SWOT Analysis (Opportunities and Threats)
The SWOT tool is also used for the purpose of successfully analysing the external operational
environment of the joint venture business prospect of Aviva PLC with Tencent in Hong Kong.
The following section has undertaken the strategic management tool for the purpose of

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identifying the benefits as well as limitations of the strategic business choice within its external
business environment in the form of opportunities and threats:
4.2.1 Benefits (Opportunities)
The insurance marketplace of Hong Kong is identified to be the largest with presence of
immense prospects among all other countries in Asia (Lau et al., 2013). As a result, Aviva PLC
was exposed to gain immense benefits from operating in the country in along with its joint
venture business partner Tencent Holdings. Furthermore, the insurance service provider was
exposed to the widespread opportunity available within its operational scope to enhance as well
as expand its existing digital sales channel in the most prospective marketplace of Asia. This is
mainly due to the fact that at present the direct and digital insurance sales channel accounts for
about only 1% in the country, the remaining of the marketplace is left over to be explored by
Aviva and Tencent in the coming years (Aviva, 2019b). Thus, it is quite evident that the joint
venture business operation helped Aviva PLC in experiencing widespread benefits, market
appropriateness as well as operational scope of the foreign business expansion endeavour. The
joint venture business collaboration, Blue is thereby considered to possess immense capability in
revolutionising the entire traditional insurance marketplace into a technologically advanced
operational network (You, 2018).
4.2.2 Challenges (Threats)
The future operational scope of joint venture business venture seems to somewhat uncertain
since there is no surety about how long the two organisations are likely to operate together
(Hong, Ban and Ar, 2012). Both Aviva PLC or Tencent may go ahead with discontinuing the
business operations, on successfully accomplishing their individual business prospects in relation
to operating as a single entity. Furthermore, there are high chances of conflict or dispute taking
place in between the two organisations, which in the long run severely hampers the overall
business operational prospects of both the organisations severely (Choi and Beamish, 2013). The
joint venture business scope of Aviva PLC and Tencent holdings is not an exception to the
challenges prevailing in the external business scope of the joint venture operations. In addition to
the mentioned threats associated with joint venture, the collaborated operations to suffers from
the consequences associated with competitive business threats in Hong Kong. The threats from
the existing local as well as international insurance organisations operating in the country is a

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major factor to be taken into consideration by the joint venture, Blue (Lu, Wang and Kweh,
2014).
4.3 Potential Impact on Customers
The customer base in China was largely influenced by the joint venture business operation of
Aviva Plc and Tencent Holdings, Blue. It largely benefitted the customers who had a keen
interest of managing, controlling as well as protecting their own insurance products all by
themselves (Aviva, 2019b). The customers were exposed to high degree of service flexibility and
thereby capable of adjusting the term period of their insurance products as and when required,
well suited to their present as well as future needs and demands. Furthermore, as the overall
operational activities took place via the digital platform, the customers enjoyed high degree of
usage convenience with the joint venture business operations of Aviva with Tencent in Hong
Kong. The joint venture business activity of Blue was able to deliver exceptional customer value
since the process associated with purchasing as well as maintaining insurance policies for a
prolonged time period is made easy and simple unlike the complex process of traditional
commission based operational process. The customers were able to successfully own an
insurance policy by answering some simple questions relating to their health, to become eligible
for further processes through their mobile phones.
4.4 Minimising the Impact of Organisational Strategic Planning
The following section highlights the process that is to be used for the purpose of overcoming the
identified challenges within the present joint venture business scope of Aviva PLC in Hong
Kong:
4.4.1 Internal Environment (Weaknesses)
Aviva PLC must look forward to ensuring that the compromises it has made in relation to enter
into joint venture business relationship with Tencent Holdings is largely able to deliver
prospective results. Otherwise, it is essential for the organisation to reshuffle its present business
contract so as to incorporate terms and conditions that tends to deliver high sales revenue and
profit margin to both the organisations as well as in individual levels too. In doing so, the likely
chances on a conflict can be avoided largely.

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4.4.2 External Environment (Threats)
The organisation needs to gain detailed knowledge of the strategies adopted by its present
competitors in the country so as to ensure that its future strategic planning is able to effectively
deal with them. The joint venture of Aviva PLC and Tencent Holdings, Blue must look forward
to developing as much customer value as possible through innovating its service offerings as
well as further simplification of the process relating to owning an insurance product.
5.0 Future Strategic Business Plan: Cost Leadership Business Model
The future business operational scope of Aviva PLC can look forward to undertaking a cost
leadership business model in order to successfully deal with the competitive business forces in
the business operational context. The cost leadership business model is likely to help the
insurance organisation severely exploit the highly prospective marketplace of Asia. The cost
leadership business strategy allows an organisation to increase the operational effectiveness
severely through severe reduction of the production costs in comparison to the present market
standard (Euchner and Ganguly, 2014). The strategy will largely help Aviva PLC in enjoying
high degree of competitive advantage in the insurance marketplace. Furthermore, it also helps
organisations to go ahead and offer its products in the least possible cost (Brea‐Solís et al.,
2015). In doing so, the British organisation will be able to successfully gain the attention of its
target customers effectively.
5.1 Implementation
The organisation needs to ensure that it possess adequate resources and capabilities essential to
deliver the benefits associated with cost leadership to the target customers (Schaltegger, Lüdeke-
Freund and Hansen, 2012). First and foremost, Aviva PLC needs to ensure that its present
workforce is capable of dealing with the increase demand for product that is likely to take place
with its low cost offering of insurance products. It also requires the organisation to go ahead that
the business operational scope is able to retain ins existing market share even after deployment
of the new cost leadership operational model. Furthermore, necessary training and skills must be
provided to the employees so that they are able to deliver the innovative product and service
offerings at the lowest possible cost to the customers (Demil et al., 2015).

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5.2 Monitoring
Aviva PLC must enforce an effective monitoring strategy to ensure that its newly developed cost
leadership business model is able to develop a distinctive position of its own in the marketplace.
It requires organisations to establish direct coordination and communication with the customers
to gain immense knowledge on the satisfaction level (Gren et al., 2012). Furthermore, Aviva
PLC must also go ahead with finding out whether the organisation and its employees are able to
cater to the queries of each and every customer as the demand gradually increases with the low-
cost product offering decision undertaken by the organisation. Customer feedback as well as
overall increase in sales earning capacity and profit gaining figures is of immense significance in
determining the effectiveness of cost leadership business model in both the present as well as
future scope of operations.
6.0 Conclusion
The detailed analysis of the strategic business environment of Aviva PLC has highlighted how
the organisation looks forward to revolutionising the insurance marketplace with its unique
product and service offerings. In spite of the severe competitive forces, the organisation is in a
position to operate in full swing as well as exhibit high degree of competitive advantage in
comparison to its present counterparts in the UK. Furthermore, the strategic business choice
made by the organisation in relation to its business expansion in Asian marketplace seems to be
highly significant. The joint venture business relationship along with the joint venture operation
scope experienced immense customer value and satisfaction in Hong Kong. Based on the present
success experienced in the Asian insurance marketplace, Aviva PLC is looking forward to
implementation of cost leadership business strategy in its future operational activities in Asia.
The organisation is looking forward to seeking continuous feedback of its customers as well as
market prospect to determine the operational effectiveness of its new strategic business option.

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