ING: A Business Model for the Asia/Pacific Region

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As one company, ING started in 1991 due to a merger of a Dutch bank and a Dutch insurance agency. Since the merger, ING has experienced tremendous growth. One of the areas experiencing such growth is the Asia Pacific region. In 2002, ING promoted Jacques Kemp as the new Chief Executive Officer (CEO) of ING Asia Pacific. As Andreas Schotter indicates in the ING Insurance Asia/Pacific case study (2006), “Kemp was concerned that ING needed to prepare for the time when the general market growth in Asia slowed and the competitive pressure intensified” (p. 1). As a result, he contacted three different consulting firms to establish a clear path to take ING Asia Pacific to the next level. Unfortunately, none of the consulting firms provided Kemp with what he was looking for. This paper will address what Kemp should institute as a means of addressing: the misaligned strategies and values of the different entities within the Asia Pacific region, clear up communication gaps and finally empower local managers to help Kemp bring ING Asia Pacific as a leader in the industry. To begin, Kemp should have conducted a thorough analysis of each country. The best approach would be conducting a Strength’s, weakness, opportunities and threats (SWOT) analysis, in an effort to find commonalities between the regions that he could build on. One of the issues Jacques Kemp identified in the ING Asia Pacific organization was that “The functional managers at the regional office had difficulties maintaining common standards across the region” (Schotter, 2006, p. 4). As Management Study Guide illustrates, “Its [SWOT] key purpose is to identify the strategies that will create a firm specific business model that will best align an organization’s resources and ca... ... middle of paper ... ...inally decentralizing decision making will empower unit managers to forge ahead within their own local environments. Works Cited Allis, R. (2011, April 5). CEO Role #2: Defining the culture. How to Change the World. Retrieved from Malone, T.W., Laubacher, R. and Morton, M.S.S. (2003). Inventing the Organizations of the 21st Century. Boston, MA: Massachusetts Institute of Technology. Management Study Guide. (n.d.). SWOT Analysis. Retrieved from Reh, F.J. (n.d.). Company Culture. Retrieved from Robbins, S.P. & Coulter, M. (2012). Management (11th ed.). Saddle River, NJ: Prentice Hall. Schotter, A. (2006). ING Insurance Asia/Pacific. [Case study]. Ontario, Canada: Ivey Publishing.

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