Strategic Management a Case of Nusantara Worldwide Insurance (M) Berhad
Strategic Management practices and success is still an issue debated by groups or individuals where unsuccessful implementation and results are derived within many organizations and companies. However, it is also determined that the default is due to the respective organizations and companies ins...
Saved in:
| Main Author: | |
|---|---|
| Format: | Project Paper Report |
| Language: | English English |
| Published: |
1999
|
| Subjects: | |
| Online Access: | http://psasir.upm.edu.my/id/eprint/7919/1/GSM_1999_27_.pdf http://psasir.upm.edu.my/id/eprint/7919/ |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| Summary: | Strategic Management practices and success is still an issue debated by groups or
individuals where unsuccessful implementation and results are derived within
many organizations and companies. However, it is also determined that the
default is due to the respective organizations and companies insufficient focus and
actions towards the highlighted alternatives.
The case study is to apply strategic management concepts and techniques to
overcome a real-life issue and in this case, for Nusantara Worldwide Insurance
(M) Berhad an insurance company which is experiencing a major decline in its
performance and profitability.
Analysis were conducted involving the company's external and internal
environment in order to match the company's opportunities and threats with its
strengths and weaknesses. Variables and strategic factors were derived from
current impact and company's e}'.'perience in the industry and relevant internal
information (eg. Reports, schedules, individuals and etc.). SWOT matrix and
SPACE models were used to solve the issue.
The case analysis derived to recommendation that NWI should pursue the 'growth
strategy' with sufficient usage and allocation of funds from the company's
fmancial ability. The development of 'NWI Action Plan' which consist of three action plans (NWI-APl, NWI-AP2 and NWI-AP3) are aimed to facilitate the
difficulties and constraint which the company experiencing. This action plan
suggested to be implemented in 1999 with the budget ofRM145,OOO.OO.
To conclude, in order to increase the effectiveness of the strategy, it is proposed to
implement the NWI Corporate values (external and internal) to enhance the
perceptions and performance of the company in approaching the new millennium. |
|---|