MGMT6012 - Management Perspectives: Medibank Health Insurance Analysis

This report examines the compatibility of a management student with Medibank Health Insurance, an Australian healthcare company. It begins with an executive summary and an introduction outlining the research question: How well does the student fit with Medibank? The report employs a deductive research approach and critical reflection, using qualitative data. A SWOT analysis is conducted, revealing the student's strengths (communication, planning, leadership) and weaknesses (need for detail, slow decision-making), and categorizing them under the ENTJ personality type. The analysis also considers environmental factors such as government policies and technological advancements. The report then addresses workplace diversity, emphasizing Medibank's commitment to equal opportunity. Finally, it assesses organizational fit, concluding that an apprenticeship would benefit the student's development. References are provided.

Running Head: MANAGEMENT PERSPECTIVES
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MANAGEMENT PERSPECTIVES
Author name
University

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Executive summary
This particular report aims to examine the fit of the individual with the organisation discussed in
the assignment 1, which is Medibank Health Insurance. I examine my strengths and weaknesses
and tallies them with the environmental factors to identify the opportunities and risks that I might
face while working in Medibank Health Insurance. It also discusses different aspects of
organisational diversity that might need consideration for productive management. Based on the
acquired understanding it determines if I am fit for Medibank Health Insurance.

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Table of Contents
Introduction......................................................................................................................................4
Research methodology.....................................................................................................................5
SWOT analysis................................................................................................................................6
Diversity........................................................................................................................................10
Organisational fit...........................................................................................................................11
Conclusion.....................................................................................................................................12
References......................................................................................................................................13

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Management perspectives
Introduction
This report aims to examine the student’s compatibility with the organisation discussed in
the assignment 1, which, in the present case, is Medibank Health Insurance. I am a management
student with intent to work in Medibank Health Insurance. However, identifying my strengths,
weaknesses and potential is essential to realise if I would be fit for the above mentioned
company. The evaluation would be conducted based on my SWOT analysis and the data
acquired through the Meyer Biggs Personality Type Indicator test. The result of the test does not
merely indicate the opportunities and the threats to identify the scope of personal improvement
but also helps in understanding whether I am compatible with the organisation.
Medibank Health Insurance is an Australia based healthcare company, availing health
insurance and solutions. Evaluation of the managerial practices and ethical conducts of the
organisation, in the assignment 1 has availed the information concerning the organisation’s
approach towards and expectations from its workforce, which would serve as a key determinant
of it I am fit to serve as an employee in the organisation.
As the report is directed towards the examining my fit with the Medibank Health
Insurance, therefore the main research question is:
 How well do I fit with the Medibank Health Insurance as a future employee?
The subordinate questions entailing the main question are:
 What are my strengths and weaknesses that might pose threat or generate
opportunities concerning my employability in Medibank Health Insurance?

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 How do I address the work place diversity while working in Medibank Health
Insurance?
 What are the barriers in achieving my fit with Medibank Health Insurance?
Research methodology
Deductive research approach has been used in this research to identify whether I am fit
for the Medibank Health Insurance, which is expected to be ideal for reaching a logical
conclusion based on existing practices and theories (Sekaran and Bougie, 2016). Unlike the
inductive research approach, the deductive approach is capable of reaching conclusions that are
more specific and narrowing down the outcome to address specific problems (Woiceshyn and
Daellenbach, 2018). As research question in this study concerns with the organisational fit, that
is if I am fit for an employment in the Medibank Health Insurance therefore, specific deduction
is required based on the theoretical as well as practical information. Deductive approach is more
suitable for achieving that target.
I have opted for critical reflection as it is identified as the most suitable method of
research in case of professional learning. As in this particular assignment, my suitability in the
work force of Medibank Health Insurance is under scrutiny therefore critical reflection might be
the most suitable method for this report. In addition, only qualitative data has been used for the
study as they would avail an in-depth understanding of different aspects of my skills and abilities
that might be useful in making me fit for Medibank Health Insurance. Quantitative data, despite
its ability of ratio analysis might not be suitable for this study as they would not be able to avail
detailed insight of the reason behind the deduction (Sekaran and Bougie, 2016).

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SWOT analysis
Strengths Weaknesses
 Strong communication skills
 Planning ability
 Analytical skills
 Leadership quality
 Intuitiveness
 Adaptability
 Strong theoretical knowledge
 Little regard for feeling over thinking
during decision making
 Need for details
 Comparatively slow decision-making
 Tendency to overanalyse
 Lack of experience
Opportunities Threats
 Career in business management
 Team leading
 Internship in Medibank Health
Insurance for skill development
 Medibank Health Insurance – market
leader in Australia
 Inexperience
 Perceived as controlling or rigid
 High competition
 Speedy technological advancement
Table 1: SWOT analysis
(Source: Created by student)
From the table above, which is developed based on the result of my Myers-Biggs
Personality Type Indicator test (Refer to the appendix) it is evident that the most suitable
department for me in the Medibank Health Insurance would be the management department.
Based on my answers I have been categorised under the ENTJ group, which is characterised by
the qualities like good communication skills, ability to plan, and leadership quality. The best

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suited operational responsibilities for individuals belonging to this department are that of a leader
or manager. In addition, the Medibank Health Insurance with largest market share in Australia
(27.6%) provides best opportunity for me to access and understand the health insurance market
of Australia (Comparing Expert, 2018). Therefore, interning as a management apprentice in the
organisation might provide me the opportunity to improve my managerial skills and industry
specific understanding.
However, as can be seen in the table above, my lack of professional experience and the
need for detailed analysis before decision-making might be a hindrance in performing the role of
a manager. This might also be attributed to my little regard for feelings as a determinant of a
business decision. Pettigrew (2014) identified that a major part of an organisational leader’s
responsibility is the ability to quick and balanced decision-making. D’Innocenzo, Mathieu and
Kukenberger (2016) further added that experience, knowledge and intuition is the key to
management of business issues. Therefore, to gather experience and knowledge I might need to
begin my service in Medibank Health Insurance as a member of an operational team and then
develop into a team leader and management staff. My apprenticeship moreover, might help me to
learn from my senior and improve my decision-making skills. However, if not overcome, this
weakness might hinder my growth as a management staff and risk my employment in Medibank
Health Insurance.
While the table above avails an understanding of the opportunities and threats that my
strengths and weaknesses pose, it does not explain their relevance in context of the external
environmental factors. The following table might provide a better understanding of it.
Factors Details Opportunities Threats

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Political Government making private
insurance simpler
 Industry standards
introduction
Simplification of
operational requirements
Inadequate awareness
Economic  Increased market Increased employability Changed skill
requirement
 Slow GDP growth
(Hutchens, 2018) -
Reduced expenses
Lack of employment
Social 47% of population consume
private health insurance
Increased preferences for
private insurance
Scope for larger
workforce
Changed customer
demand
Technolog
y
More robots in work force
Software robotics
Innovation
Increased efficiency
Consistent decision
making
Scope for fast learners
Reduced manual staff
requirement
Need for knowledge
updates
Table 2: Opportunities and threat posed by environmental factors
(Source: Created by student)
In 13th October 2017, the Australian government announced a range of packages for
reforming the private health insurance to make it simpler as well as more affordable for the
common people of Australia (PwC Australia, 2017). This is expected to attract more customers
to the private insurances. Moreover, as Medibank Health Insurance is the market leader in this
industry its sales as well as employee requirement is expected to increase creating better

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opportunities for student like me, aspiring for a career in the organisation. However, with the
introduction of new industrial standards arises the need for learning to adhere to them, failure in
doing which might risk severe violation of law.
The private health insurance industry of Australia has increased by 5.7% between the
financial years 2016 and 2017, which marks the expansion of market as well as the industry
making better room for new professionals. However, the GDP growth of the country has rapidly
slowed down by 2.8% threatening the potential downfall in the income hence purchase ability of
the consumers, which would lead to a reduced demand of employees as well (Hutchens, 2018).
As can be seen in the table above, around 47% of the Australian population consumes
some kind of private insurance and with the escalated number of consumers, the need for
management and analytical skills along with the ability for quick decision-making has escalated
(Glover, n.d.). Hence, my attention for details and analysis might improve my scope of
employment as a management staff in Medibank Health Insurance. However, my inability to
take decision without a detailed analysis might prove to a hindrance.
Threat of becoming irrelevant or redundant due to failure in keeping up with the
technological requirement is a major threat with the fast advancement of technology in the health
insurance industry. In addition, with the increasing emphasis on the use of robots for improving
the operational aspects, by the CEOs of private health insurance organisations the threat of
reduced manual employees arises (KPMG, 2017). Moreover, it also might affect the
technological requirements for employment in tbe Medibank Health Insurance.

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Diversity
Managing the workforce diversity is one of the key aspects that determine the
effectiveness of the workforce in a multicultural workforce environment. Medibank Health
Insurance, due to its wide spread operations as well as the nature of its business addresses
customers and employees that belong to different ethnic, racial, cultural, religious and gender
groups. Medibank Health Insurance, in its management of the workforce emphasises on the
value of having a diverse workforce and through its strict anti-discriminatory policies ensures
that it allows equal opportunity of growth and development for all tis employees (Medibank,
n.d.). Kohler (2016) identified that identification of the cultural differences between the staff
members and encouraging acceptance in the work environment are the major responsibilities of a
team leader as the unique and diverse background of the team members is the key to innovation.
Lisak and Erez (2015) added that the diversity in a team, in terms of expertise and cultural
background allows contradictory opinion, which is the determinant of positive performance.
As I intend to serve as a management apprentice in the Medibank Health Insurance, it is
essential for me to ensure that any kind of discriminatory practice is avoided in the workplace to
ensure maximum productivity. My management practices need to adhere to the federal as well as
the state anti-discrimination law along with the Fir work Act 2009 (Cth), to avoid unlawful
practice of discrimination in terms of race, including national and ethnic background, colour,
immigrant status, disability, sexual orientation, gender identity, gender in general and age
(Australian Human Rights Commission, n.d.). Erbe (2014) pointed out that even the companies
with most active advocacy of cultural diversity in work place through their policies and practices
might enforce the cultural norms of the dominant cultures. Machado and Davim (2017) on the
other hand, marked that every organisation has its unique organisational fingerprint, a set of

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norm and the employees that behave against the norms or the framework are recognised as the
misfit. In such circumstances, it becomes essential, for a management staff, to ensure that the
norms of the dominant culture do not add to the organisational fingerprint. Otherwise, the
employees from the other cultural background would be treated as misfits, which is to be
perceived as the discrimination.
Organisational fit
The result of my Myers-Biggs personality type indicator test (refer to the appendix) indicates that
I belong to the personality type ENTJ (Extraverted Intuitive Thinking Judging), which is
characterised by the leadership quality, planning ability, organisational skills and creativity
(Furnham, 2017). In addition, the SWOT analysis performed in the previous section in adherence
to the PEST factors also indicates that an apprenticeship in Medibank Health Insurance would
help in developing my management skills, decision-making ability and knowledge of the private
health insurance industry. Moreover, the approach of the Medibank Health Insurance towards
diversity within the workplace, which marks it as a preferred work environment for me.
However, my tendency to overanalyse the available data and little regard for the feelings that
might be the basis for intercultural practices might serve as a barrier in my fit with the Medibank
Health Insurance. Yet, my adaptability might help in overcome that barrier as I learn from the
practices in the company. Therefore, it can be stated that, Medibank Health Insurance, and more
specifically its management department might be a suitable option for me to work and develop
my managerial skills.

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Conclusion
Through the evaluation presented above it is evident that, Medibank Health Insurance
might serve as a fit option for work for me. On the other hand, the SWOT analysis along with the
PEST evaluation of the opportunities and threats indicate the areas that need to be improved for
ensuring proper fit with the company. Quick decision-making and lack of experience is an issue
identified through this analysis. Undertaking smaller tasks of management and practicing
decision making within the classroom and during academic events might help in overcoming that
issue to a certain extent. In addition, updating the industry knowledge and technological skills in
frequent intervals might also help in ensuring my fit with the management department of
Medibank Health Insurance.