| USAA SWOT Analysis | | |
Management 303 SWOT Analysis of USAA
Section I – Organizational History
Fortune 500 company, United Services Automobile Association (USAA) began as a small group of 25 U.S. Army officers in 1922. Nearly 90 years later, it is now an organization with more than 7.4 million members, offering banking, investing, retirement and insurance services worldwide. Since its inception, USAA has expanded membership eligibility to include all members of the Armed Forces and their family. What makes USAA stand out is that it is not a corporation, but an inter-insurance exchange. This allows each member to be insured by every other member concurrently, yet only liable for the premiums which they have paid in. Since
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Weakness #2 – No Particular Agent The second organizational weakness is the lack of personalized service. It’s impossible to give personal attention to as many members as USAA has like it is for a smaller community bank and insurance provider. Since the organization is so large, it is easy to feel lost in the mix and just another number. Smaller community banks and insurance providers have the benefit of getting to know their clients personally, may be better able to serve their specific concerns and clients tend to be more comfortable doing business with someone from their own community with whom they deal with consistently. Also, it can be frustrating that you are unable to speak to the same representative twice when calling a large business such as USAA. USAA can minimize this weakness by creating “teams” of representatives for their members. Each member can be assigned to a team of 5-7 USAA representatives, one of which will be answering that members concern. Teams would be comprised of representatives from each specialty (IRA planning, mortgage help, banking etc.) and be available only to their customers. This strategy would provide comfort to the members who like to deal with the same individuals when doing business.
Section III – Opportunities and Threats
Two opportunities presented to USAA are to expand the number of physical locations both domestically and nationally and to provide additional services to programs already being used. Two
“UnitedHealthcare provides network-based health care benefits for a full spectrum of customers in the health benefits market” such as students and individuals; sole proprietorships to multi-site, large national employers; promotion of health benefits to Medicare retirees and beneficiaries; and provides Medicaid and community programs (UnitedHealthcare, 2010). UnitedHealth Group 2012 revenue was $11.3 billion. The company is continuously growing through various mergers and acquisitions within the US and Europe, increasing members and revenues (Keepournhspublic, n. d.).
The organization selected for analysis and evaluation is American Lake Credit Union. This organization is composed of two main branches, both located in Tacoma, Washington. In contrast to banks, Credit Unions are smaller organizations and are directed by members who are selected via a vote to serve in an all-volunteer board of directors for the organization (Scott, and Johnston, p.2, 2011). Specifically, this credit union was founded in 1948 and has grown since then. (C. Fitzer, personal communication April 7, 2014). For instance, although the organization is small in size through a partnership with a credit union network, it is able to provide general financial services at diverse locations
USAA employs more than 23,400 personnel at its offices throughout the country, (https://en.wikipedia). USAA fully believes in empowering their employees, by encouraging employee growth through purpose-driven and meaningful work, promoting internal mobility by offering career opportunities and inspiring through a flexible and supportive work environment . Encourage employees to be themselves, working in a style that suits them but adhering to USAA’s mission and work ethic’s. By developing leaders that explore options, and are innovation driven, USAA has become the employer of
USAA Savings Bank has been around for a long time believe it or not. In 1922 USAA was originally founded in San Antonio, Texas when 25 Army officers decided to come together and insure each other’s automobiles. William Garrison was USAA’s first elected president. Shortly after that USAA’s first employee was Harold Dunton, who was hired as a general manager. Major Walter Moore purchased the first automobile insurance policy for $114.74 and became USAA’s first member. Two years later in 1924 USAA printed their first credo. The company motto was “Service to the Services.” 1928 was the year that USAA started advertising 8,000 active component service members
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The apartments at Royal Oaks come in a wide variety of one, two and three bedroom floor plans. Located between the Westpark Tollway and I-69, this apartment community is close to the roads that residents need quick access to for getting where they need to go in the Houston area. It is within walking distance of the PlazAmericas Shopping Centre for unparalleled convenience to a large variety of shopping, dining and entertainment. The Arena Theatre is also close by for those who wish to take in a show or concert at this performing arts venue. Bargain hunters will also appreciate their proximity to Harwin Outlet Mall.
Universal Health Services, Inc. (UHS) has been the publicly held United States dependent traded specialty healthcare company. This involves the assisted of the public by hospitals. Most of these companies are owned and operates by acute care hospitals, behavioral health centers, surgical hospitals, ambulatory surgery centers as well as radiation oncology centers.
USHEALTH health insurance company offers exemplary coverage for their insured including specified diseases which as a customer the an agent who has gone through a series of training and certification before they can answer customers questions or even market the company's
It was in 1977 that the United Healthcare United Health group was founded by Richard Burke. The headquarters of the company are in Minnetonka, Minnesota. This organization works towards the betterment of people's health, it help them in living a healthy life by providing them with the kind of health care that would be best for them. The main focus of United Healthcare which is a major division of the United Health group is to provide the people with better health benefits and coverage.
UnitedHealth Group continues to enjoy steady progress across its major business units. Over the past two years United has worked to strengthen and accelerate its investments in its core health insurance and health services (Optum) units. This disciplined approach has resulted in both top-line and bottom-line growth growth for the organization on a year-over-year basis, with primary growth coming from the senior and public sectors, as well as from strong results in Optum. Membership for the third quarter was unchanged sequentially from 2Q14 with medical membership holding steady at 44.9 million members.
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Founded in 1922, this Texas based insurance company, started out when 25 Army officers, San Antonio, Texas, made the agreement to insure one another’s automobiles. Within 90 years, this miniature insurance group has grown to be one of the premier financial service providers in the nation, boasting over 11.4 million members and 28 thousand employees. USAA provides over 47.2 million active products, such as policies for property/casualty and life insurance, personal banking, discount brokerage accounts, investment management services, and other special services such as real estate development and discount shopping. Keeping true to their original
One night in 1981, Jeff Munks, a police office in San Jose, CA responded to an urgent call and arrived at a residence where a Vietnamese immigrant who spoke no English was screaming and waving his arms agitatedly. Next to him, his son was having trouble breathing. After Jeff guessed what had been happening and immediately called for an ambulance, he kept thinking about emergency situations where danger is exacerbated because of a language barrier. This resulted in Telephone Interpretation being offered since that year. This service connects trained interpreters via telephone to Limited English Proficient (LEP) Individuals. Cyracom International is one of those companies that provide critical
DefinitionEdit DefinitionSave to FavoritesSee ExamplesAgents, factors, or forces in an organization's external environment that are out of its control, and can directly or indirectly affect is chances of success or failure.
According to What is SWOT Anlysis (2011), SWOT analysis is an analysis used to identify the internal factors (strengths and weaknesses) of the company as well as external factors (opportunities and threats) of the company.