Reference no: EM131631390
a) Develop a SWOT Analysis for any Insurance Company.
A brief introduction/background of the company is required. This will be instructive for the development of your SWOT Analysis.
Kindly note that the assignment is of a practical nature. We do not want to know what a SWOT means. Read the Question carefully. You are writing about your organization.
Your understanding of the theoretical aspects will be demonstrated regarding how you present your SWOT. For example, saying that Leadership is strength means nothing. It could be qualified, experienced and dedicated management team who provide astute leadership. In your further explanation - what has this brought to the organization?
Note that SW are internal to the organization, while OT are external. Do not mix them up.
Note the document titled SWOT Analysis posted in the Course Resources Section which lists what you should look for in identifying a company’s Strengths, Weaknesses, Opportunities and Threats.
b) Indicate how each of the strengths listed can be used to gain and/or maintain the organization’s competitive advantage.
In your discussion for Question 1 (b), some of the theory will be highlighted.
Example: If insurance company has a weakness with marketing and capturing the market, you may want to indicate that it can embark on Market Penetration or Product Development as a strategy. A strategy may be Branding, if there is a weakness there. If so, then what may be the outcome(s) for the organization?
Example - If insurance company does not have the skills and competences to carry out a process/ function effectively, it may look at outsourcing, noting that there are advantages and disadvantages associated with outsourcing.
Although the organization may have certain strengths, there may still be ways to improve.
Strategies are developed mainly based on the WOT.
A brief conclusion at the end of the question is required.