Benefits and minimise the risks of the new strategy

Assignment Help Operation Management

Reference no: EM133594527

Case: You are the Chief Risk Officer for TNL DAC, a composite Irish insurer based in Dublin. TNL's business performance over the last five years has shown a decline in market share and profitability. TNL's market share has reduced by 7% in the last 5 years and its Combined Operating Ratio has increased to 101%. This decline has arisen from a reduction in TNL's competitive positions in the markets in which it operates.

As a result of this decline in business performance, the Board of TNL has devised a new strategy to increase its market share and improve profitability. This new strategy includes underwriting new classes of business; both in existing and new territories. This strategy is based on greater risk tolerance and an increased risk appetite. The Board has asked you to engage with TNL's business functions to ensure that its
business planning adequately reflects the benefits and risks arising from the new strategy.

Question 1: Identify, with justification, the business/operational function of TNL, most impacted by the new strategy.

Question 2: Analyse, for this business function, the most significant benefits and risks arising from the new strategy.

Question 3: Make recommendations, based on your analysis, to maximise the benefits and minimise the risks of the new strategy.

Reference no: EM133594527

Questions Cloud

What is the capacity of the workers in the first step : Draw a process flow diagram, making sure to label the resources (workers) and the different times for the workers to process applications

Who were the sponsors mentioned at the beginning of podcast : The first episode begins with information about the podcast's sponsor. Like many types of media, podcast creators make money by selling advertising space.

What buy-back price should the wholesaler offer : What buy-back price should the wholesaler offer to induce the bookstore to buy the quantity that maximizes the combined profit of the wholesaler

Describe the issues surrounding the monitoring of venue : Describe the issues surrounding the monitoring of venue customer service, in particular, the application of venue standards by various members of a management

Benefits and minimise the risks of the new strategy : Identify, with justification, the business/operational function of TNL, most impacted by the new strategy and Analyse, for this business function

What drug policy do you use or will use as a coach : What drug policy do you use or will use as a coach and How do you feel about the potential for coaches to help athletes with drug problems

Short-term or long-term financing option : Do you think the CFO should assess whether a short-term or long-term financing option is more suitable for addressing the company's working capital needs

What are flexible schedules : What are flexible schedules, as described in your text? Give TWO specific examples of flexible schedules. How might schedules such as these help employees

Examine how a business picks its location : What is the basis for choosing these 7 elements How did you determined the weights (0.2 for demographics vs 0.1 for Low political risk)

User Account

All Pages