Challenges Of Strategy Implementation At Madison Insurance Company ( K ) Limited Essay

Watkins, M. D. (2007). Demystifying Strategy: The What, Who, How, and Why. Harvard Business Review. Retrieved from

An internship report submitted in partial fulfillment of the requirement for the Degree of Bachelor of Business Administration

Carlos J. Alsua, Assistant Professor of Business Administration (Management), College of Business and Public Policy, University of Alaska Anchorage, USA

The case study primarily discusses five main perspectives with regard to strategy. They, in essence, shed focus on aspects that are crucial to the determination of a solid platform for strategy definition. The different strategies discussed mainly evolve around the mentioned concepts.

This essay will critically analyse, compare and contrast two journal articles about corporate strategy. It will discuss how the two author approaches the topic of corporate strategy and what they see as key issues of corporate strategy. The similarities and differences on their approaches will also be analysed. The two articles are “The Anatomy of a Corporate Strategy” by Jack O. Vance which was written in 1970 and “Rethinking Corporate Strategy – A Consciousness Perspective” by M.S Srinivasan which was written in 2009.

Submitted in partial fulfillment of the requirement for the Degree of Post Graduate Program In Management

under the guidance of Prof. Rajesh Vyas in partial fulfillment of the requirement of Masters of Management Studies by University of Mumbai for the academic year 2012 – 2014.

 2009, Icfai Center for Management Research. All rights reserved. No part of this publication may be

SUBMITTED TO PROF. NEIL COHEN School of Business and Public Management The George Washington University

The world has entered the information age, the reliance of the development of economy and the progress of the society on information resources, information technology and the information industry is more and more big. The more mature and widely used information technology is profoundly changing people 's traditional ideas, ways of thinking, working style, life style and even industrial structure and social structure of the society as a whole. Information technology has become a global common choice for the development of economy, the degree of informatization has become a measure of a country’s national strength and an important symbol of modernization level(Khurshudov, Andrei, 2001). The

4. This section includes a number of subsections related to defining strategy (e.g., the type of business to operate, how to structure and finance the company, how to convert competences into competitive advantage, etc.); the formulation and implementation of strategy (intended strategy versus realized strategy); alternative research paradigms (i.e., strategy as an outcome of rational choice, as a craft, or as a ritual); how to operationalize strategy (textual description, partial measurement, multidimensional measurement, and typologies); strategic variables (organizational types - defenders, prospectors, and analyzers); Porter's generic strategies (i.e., cost leadership, differentiation, and focus); conservative (reluctant innovators) versus entrepreneurial firms (aggressive innovators); and strategic missions (i.e., build, harvest, hold, and divest). This rather confusing assortment of terms is made more comprehensible in the graphic below where the various combinations of the dimensions of strategy are indicated as a matrix of choices.

Organizations successful at strategy implementation effectively manage six key supporting factors :     1.  Action Planning

I hereby declare that this dissertation is my own original work and is the result of my own investigations. This dissertation research was conducted to fulfill the requirements of BA (Hons) in Business Administration (Marketing) associated with University of Wales.

The insurance industry exists to provide effective risk management services to protect customers. Insurers charge a premium for coverage against specific risks including motor vehicle accidents, house fires, illnesses, etc. In the event of an accident, insurance companies are required to pay for damages according to policy contracts. According to Allstate Insurance: Building Relationships through Email Campaigns case study, “Insurance may be the only product that people buy that they hope they will never use,” (Tarter, Caravella, & Zahay). The insurance industry has grown to be largely competitive, and has reached the heights of $140.1 billion within the United States. (Tarter, et al.). Insurance companies compete for customers based on coverage, price, service, reliability and stability. “Reputation is everything,” (Tarter, et al.).

A RESEARCH PROPOSAL SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF A DEGREE IN BUSINESS MANAGEMENT AT MASINDE MULIRO UNIVERSITY OF SCIENCE AND TECHNOLOGY