Managing inherent enterprise risks through stakeholder

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Reference no: EM132277078

Aetna, Inc. Case Study

Founded in 1853, Aetna, Inc. is an American diversified health insurance company, providing a range of traditional and consumer-directed health care insurance products and related services, including medical, pharmaceutical, dental, behavioral health, group life, long-term care, and disability plans, and medical management capabilities. With revenues of $30.950 billion (2008) and a workforce totaling 35,258 (2008), Aetna is a member of the Fortune 100. Aetna advanced up the Fortune 500 list in 2009. The company’s strong 2008 revenue gains were largely the result of Aetna’s integration and segmentation strategies, which led to strong membership gains.

The Aetna Mission: Aetna is dedicated to helping people achieve health and financial security by providing easy access to safe, cost-effective, high-quality health care and protecting their finances against health-related risks. Building on our 156-year heritage, Aetna will be a leader cooperating with doctors and hospitals, employers, patients, public officials and others to build a stronger, more effective health care system. Vision: To earn the distinction, financially and by reputation, of being the preferred benefits company in all aspects of our business. We strive to be the industry leader by including the best ideas and perspectives available. This in turn enables Aetna to develop the most relevant solutions for each of our markets.

Strategy: Aetna will be the industry leader in the diverse marketplace. We will deliver best-in- class service to our customers because we want them to be comfortable when doing business with us. To achieve this mission we will: Create innovative and tailored product and service solutions that will meet the unique needs of our customers. Develop a diverse supplier base, reflecting our multicultural environment that supports innovative ways to deliver best-in-class services to them. Build a workforce that fully understands the diverse communities where we do business. Foster a culture of inclusion that grows a diverse talent pool and recognizes and rewards the contributions of every employee whilst allowing employees to do their best work.

Read the above case study “Aetna Inc.: Managing Inherent Enterprise Risks Through Stakeholder Management.”

Describe the stakeholder management approach of the organization before the issues arose.

Which of the three concepts of stakeholder management was most closely aligned with that approach?

Describe the stakeholder management strategy that was devised to combat the negative perceptions of the organization. In what ways did the approach change?

Do you think the new stakeholder management strategy of the organization better supports its responsibility to its constituents? Why? How?

Reference no: EM132277078

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Managing inherent enterprise risks through stakeholder : Managing Inherent Enterprise Risks Through Stakeholder Management. Describe the stakeholder management approach of the organization before the issues arose.

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