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PESTLE Analysis of Aviva

   

Added on  2020-10-05

12 Pages3258 Words370 Views
Business Environment

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................12.1Organisation structure, history and governance................................................................12.2History...............................................................................................................................22.3 Organizational Structure...................................................................................................23 How company governed......................................................................................................33.1 Stakeholders.....................................................................................................................3TASK 2............................................................................................................................................4A- Purpose, importance and impact of PESTLE analysis......................................................4CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9

INTRODUCTIONBusiness environment refers to composition of all the external and internal words whichaffects the overall functioning of a business. These factors include owners, competitors,government, market and people working in the organisation. The chosen company for this reportis Aviva Plc which is one of the most largest insurance company in United Kingdom and offervarious services to their customers. The present report will determine the governance andorganisational structure of Aviva along with its introduction, their mission, vision, goals andvalues. Further more, the type of organisational structure, definition and organisational chart andit is being managed will be described in this study. In the present report, how the company isgoverned will be explained. Report also described different external environment which affectcompany's overall performance by using PESTLE analysis and why the model is used which isalso describe in this present study. TASK 12.1Organisation structure, history and governanceAVIVA overview: It is a public listed company in an insurance industry serving in 16countries with 33 million consumers. It is the largest insurance provider with pensions in UnitedKingdom. Aviva's main aim is to provide developing cash and profits. The company is Britishinternational company whose headquartered is in United Kingdom (Ahmed, 2016). Companyoffers its insurance services to their customers and also provide them a leading life by providingpensions. Mission of Aviva is to grow long-term business savings profitably and aggressively.Their aim is to build proper and best business of fund management. To have top-five positions inmarkets and to take a step back from markets which are not generating super returns. They arehelpful to people in preparing them for biggest challenges of life are mission of Aviva.Aviva is the largest insurance company of UK dealing with 15 million consumers of thecountry. They offer huge range of savings and insurance products which includes health, car andhome insurance and investments and pensions. Helping people to fight against life's challengescan be said as Aviva's strongest advantage. Vision: Company's vision is to provide a healthy and leading life to those families as wellas societies and people of all ages group. Providing best customer service is their vision and toexpand their current business at global level (Bah and Fang, 2015).1

Values: Aviva Plc has its unique values and this are mentioned as below:RelationshipIntegritybest customer service.2.2HistoryEstablished in 1696 with merger of two British insurance firms, Norwich Union andCGU. Aviva's name was adopted in July 2002. Since 1696, Aviva is focussing on needs ofconsumers and providing them best service possible. In June 2009, company was formallyknown as Aviva in UK this was supported by advertising campaign for promotion of rebranding.After this, the company made its focus on commercial insurance sector to acquire larger share ofmarket (Barba and et.al., 2016). The company spread the message of insurance done with thehelp of insurance brokers in campaign. The main activities of Aviva can be described asprovision of savings products, general and life insurance and better management of funds in thecountry. 2.3 Organizational Structure Aviva Plc followed Hierarchical structure under which the organization follows the layout ofpyramid. This layout consist of many multiple entities and all the work is assigned to each andevery individual of the company. Through this every individual can easily recognised their ownresponsibilities and they gain many opportunities for promotion as well as motivate theemployees for their well performance (Belás and et.al., 2015). The company follows thisstructure in order to promote the developing employees as a specialist so that employees becomeexperts in their specific field. 2

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