logo

Strategic Management - Solved Assignment

   

Added on  2021-05-30

11 Pages3536 Words95 Views
Running head: STRATEGIC MANAGEMENTSTRATEGIC MANAGEMENTName of the StudentName of the UniversityAuthor Note

1STRATEGIC MANAGEMENTExecutive SummaryThe given report throws light on the functioning of IAG. IAG is one of the leading insurancecompanies in Australia, with its operations in New Zealand and Asia as well. The company hasbeen performing well and aims to provide assistance to the different customers who conductbusiness with them. The report follows a structured format and helps in the analysis of thedifferent business processes. Components like the mission vision, past and present strategiesalong with the business practices which stirred controversies have been given. Certainrecommendations along with environmental analysis have also been provided. It has beenadvised, that the company needs to include quality in its offerings so as to ensure maximumrevenue.

2STRATEGIC MANAGEMENTTable of ContentsIntroduction......................................................................................................................................3Mission vision, Past and Current strategies.....................................................................................3Strategies used by the firm..........................................................................................................4Business practices that faced criticism............................................................................................4Environmental Analysis...................................................................................................................5PESTLE.......................................................................................................................................5SWOT..........................................................................................................................................7Organizational culture and Leadership............................................................................................7Conclusion.......................................................................................................................................8Recommendations............................................................................................................................8References........................................................................................................................................9

3STRATEGIC MANAGEMENTIntroductionStrategic Management is a critical domain of business which deals with the differentfunctions that accompany carries out and tests the viability of each function. IAG is anAustralian company and is used as an acronym for Insurance Australia group. The givencompany is based in Australia, with various divisions in New Zealand and Asian countries. Thecompany offers both corporate and individual insurance services to its customers.The given report will be discussing the various dimensions of the company and analyzethe motive of the firm (Lasserre, 2017). The first section of the report will be discussing themission and vision of the company along with the present and past strategies. The second part ofthe report will be discussing the different business practices of the firm which have facedcriticism. The third part of the will be a critical analysis of the business environment and the lastpart will be discussing the leadership and structure in the firm.Mission vision, Past and Current strategiesThe IAG s one of the largest Insurance Retailers around the globe and engages insuccessful business with different customer types like individuals and businesses alike. Theprimary objective of the company is given as follows:To make the world a safer place.By this the company means that it aims to make the life of all the stakeholders,employees and other shareholders safer for their general well being (Iag.com.au., 2018). With itsoperations spread out in various countries and a major focus towards Australia and New Zealand,the company, wants to practice sustainable business practices in order to ensure that they cangather timely and guaranteed returns for its different stakeholders (Morschett, Schramm-Kleinand Zentes, 2015).Their strategy is to promote the key insurance products while creating growthopportunities for the different businesses which is engaged in a relationship with.The company has a simple goal in mind with its Financial Targets well set for the longterm of the company:They want a payout of around 75% of the cash earningsThey want a stable ROE.Top shareholder returnHence, it could be witnessed that the given company has various objectives in mind andfollows the given strategy to ensure it is able to perform well:Creation of top consumer solutionsIn the given aspect, the company aims to create platforms which will go a long way infulfilling customer satisfactions and also ensure that the different customer needs are identifiedin an advance manner, helps to reach out to the customers in a timely manner, using data toensure decision making and other relevant aspects (Hill, Jones and Schilling, 2014).

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
(Doc) Introduction to Management
|15
|2980
|41

Introduction of management Assignment Sample
|14
|3522
|45

Analysis of IAG Report Pdf 2022
|13
|2877
|22

Changing Global Business Environment - PDF
|12
|3174
|37

Leading insurance providers Assignment PDF
|9
|2815
|138

Introduction of Management Strategies
|13
|2662
|137