Analysis Of Raghu Nandan 's Understanding Of An Intrapreneur

An internal analysis’ purpose is very similar to that of an external analysis. Both are essentially developed to assist an organization build a successful strategy. Where they differ is that the external analysis focuses on the influential external elements; an internal analysis focuses on the internal forces. An internal analysis can unquestionably assist an organization drive up the profits aligning with internal matters. First, it is important to recognize what an internal analysis entails. In the course of this paper we will be looking into the key components that comprise this analysis. These components are StilSim’s value-chain, resources, core competencies, stakeholders, and finally their mission and vision.

State Farm is a well-known insurance company that offers many things to their customers. Among these are auto, home life and health insurance. They also provide roadside assistance, Medicare supplement, renters and condo insurance. One word which reflects the true spirit of the company would be trust. Their products are quality and has proven so since 1922. Using the SWOT analysis, one can evaluate the strengths, weaknesses, opportunities, and threats to State Farm.

Strategic initiatives vary from organization to organization. What may work for one organization may be a total disaster for another. A strategic initiative (SI) is a firm's evolving process intended to achieve three interrelated outcomes: vision, realization, and the transformation of the organization (Ferrell & Hartline, 2014). Sigma Marketing founder Don Sapit knew the printing business had growth as well as profit capabilities. The long-term vision is becoming the top industry for printed items for all over the world. The strategic initiatives that one would recommend to Sigma Marketing is investing in the transformation in the employees as they hold the knowledge to necessary resources, expertise, systems, and the

Most of the pictures that cover full pages are portraits of the customers who can be identified in different categories of ages, genders, and ethnicities. These customers suggest the diversity among Northwestern Mutual’s policyowners and the variety of products types provided by the company. The picture of a couple can be related to the financial plan option for the families, or the picture of a baby can be linked to the education savings plans. The customers in the photographs all look happy and have big smiles on their faces. Their portraits are important to help the readers visualize the key theme of the report by suggesting how Northwestern Mutual insurance and security planning satisfy its broad range of customers. In addition, there are photographs of the company’s employees who do not only look professional in their suits, but also appear to be approachable with their friendly smiling faces. These images of employees are arranged next to the photographs of the customers who are enjoying their regular life activities. This arrangement illustrates the good impacts that insurance plans have on customers. Organizing the photographs of its customers and employees throughout the annual report is an effective strategy for the company to emphasize its products and customer service quality, helpful and friendly.

In order for the strategy to be successful it should realistically assess the company’s internal resources. An internal analysis is used to identify the strengths of the company and identifies the weakness to overcome in the strategy. The internal analysis will help with understanding the internal issues that exist at StilSim by evaluating a value chain analysis, a resource analysis, core competencies and a stakeholder analysis.

In this paper, we will discuss Geico Insurance and how its marketing mix operates in the insurance industry. We will describe the four elements of the marketing mix, more commonly known as the 4P’s. Next, we will describe how each one of the four elements affects the development of Geico’s marketing strategy and tactics. Last, we will describe how each element is implemented in Geico’s marketing strategy.

Every day, an accident occurs. The accident can be simple like a broken window, or the accident can be life threatening life a car crash. Either way, money would be required to fix both issues. When an accident happens, people turn to insurance companies to help come up with a solution. However, multiple insurance companies are ridiculed and thought of as companies which can abandon their customers at the time of need. Through commercials made by State Farm, the company helps citizens see how choosing State Farm Insurance would be beneficial to them through ethos, pathos, and logos.

We ranked fourth in market share in the U.S. private passenger auto market for 2009 based on net premiums written and believe that we held that position for 2010. There are approximately 360 competitors in this market. Progressive and the other leading 14 private passenger auto insurers, each of which writes over $1.8 billion of premiums, comprise about 75% of this market. For 2009, the industry net premiums written for private passenger auto insurance in the United States was $156.5 billion, and our share of this market was approximately 7.8%, compared to $158.0 billion and 7.3% in 2008, respectively; comparable industry data is not available for 2010 at this time. All industry data, including ranking and market share, was obtained directly from data reported by either SNL Financial or A.M. Best Company, Inc. (“A.M. Best”), or was estimated using A.M. Best data as the primary source.

Nowadays, having insurance is a ‘nice thing’ to carry in case of emergency. In the U.S, most people should have at least one type of insurance. As for auto insurance, the law requires drivers to carry insurance when driving. Because of this need, the constant demand for having insurance drives many firms competing in this saturated market. In this analysis, the focus attempts to show GEICO Insurance promotional strategy in communicating its products and services to the market and identifies the effective ways in growing the brand-awareness.

Sometimes the things that have been forgotten can be viewed as new by reminding us of what is important (Watson, 2013). Pope Francis actions reflect a social innovator and some may call intrapreneur (Dearing, 2014). The definition of intrapreneur is a person within a large corporation who takes direct responsibility for turning an idea into a profitable finished product through assertive risk-taking and innovation (Pinchot, 2010).

The Case Study concerning MacFarlane solutions is an interesting one to note down regarding strategic planning in an organization. From the information given, it appears that the small business expanded merely due to the insight of Bill MacFarlane and the planning that he gave forward. (McDonald 2011 pg. 736) Bill started off after working in a firm and having an experience of more than forty years. He specialized in what he knew and then gave forward what he was good out. There was risk in his ventures as the expert started out, however he trusted his instincts and went out with the planning.

To understand the concept of intrapreneurship one must first look at its history and origin. The word intrapreneur is more than 150 years old, having come into English from French in 1828. But it is not until very recently that we find its intracorporate counterpart, intrapreneur, meaning “a person within a large corporation who takes direct responsibility for turning an idea into a profitable finished product through assertive risk-taking and innovation."

This can be clearly illustrated by the situation Gillette faced during the leadership of the CEO Vincent Ziegler. He started to buy other companies and failed to generate more profit. At first his plan looked very promissory and generated revenue but at the end the company ended up losing money and time they could have invested in their own business.

Collins, J.C. & Porras, J.I., 1995, ‘Building a visionary company’, California Management Review, vol. 37, no. 2, pp. 80-100.

While different organizations appoint several stakeholders for this task, others restrict their strategic planning process to their internal stakeholders only. In this case, only top executives are responsible for the planning and decision-making. However, in the Ritz-Carlton hotel, both internal and external stakeholders are involved in the strategic planning process. The organization understands the benefit of inclusion in generating ideas. This paper will, therefore, elaborate on the Ritz-Carlton hotel as a familiar organization and duly identifies the various stakeholders that ought to be involved in its strategic planning process and the paper examines the importance of these stakeholders and the unique insight they bring to the strategic planning process. Furthermore, the paper considers the various functional areas that are important and the functional areas that are less relevant in the strategic planning process. As in every organization, decision-makers are important so this paper identified key decision-makers in the Ritz-Carlton strategic planning process and finally, we evaluate the importance and effect of these stakeholders in the organization’s planning