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.
Allis, R. (2011, April 5). CEO Role #2: Defining the culture. How to Change the World. Retrieved from http://www.ryanallis.com/defining-company-culture/
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 http://managementstudyguide.com/swot-analysis.htm
Reh, F.J. (n.d.). Company Culture. About.com. Retrieved from http://management.about.com/cs/generalmanagement/a/companyculture.htm
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.
Need Writing Help?
Get feedback on grammar, clarity, concision and logic instantly.Check your paper »
- Introduction ING is an insurance and banking products company that provides their services to North / South America, Europe, and the Asia / Pacific region. When Jacques Kemp assumed the role of Chief Executive Officer (CEO) of the Asia / Pacific region he observed that each country within that region acted as a separate company and there were no consistent measures to compare countries. He sought advice from consulting companies to change their business strategy but still felt that no one seemed to grasp the full scope of their industry specific challenges.... [tags: Business]
1228 words (3.5 pages)
- Organizational structure can be defined as the “formal arrangement of jobs within an organization” (Robbins & Coulter, 2009, p. 185). Having a defined and unified structure helps employees work more efficiently. Jacques Kemp, former CEO of ING Insurance Asia/Pacific, realized this need early on in his role. The company had been performing well and recently acquired another insurance company to become “one of the largest life insurance companies in Asia-Pacific” (Schotter, 2006, p. 4). However, Kemp’s proactive personality led him to seek out ways to achieve more efficient coordination between the regional office and business units (Robbins & Coulter, 2009).... [tags: Critical Thinking Essays]
1697 words (4.8 pages)
- ING Insurance Asia/Pacific ING is one of the 20 largest financial structures in the world and within the top ten in Europe. A dutch-founded company, ING offers a variety of products lines in the insurance industry. It offers insurance services in the Americas, in Europe as well as in Asian countries. ING also does retail and wholesale banking all over the world. ING was the first European enterprise to enter the life insurance market in countries such as Japan, Taiwan and South Korea. Life insurance policies in Asia are different than policies in the rest of the world.... [tags: Business Case Study]
1039 words (3 pages)
- 4) Concepts 4.1) Business Model Business model is the way in which a company creates value for its customers, while at the same time generates revenue and makes a profit from company operations. According to a recent research note by Morgan Stanley analysts, “Costco operate one of the best business models in our space” (Taylor). Costco business model has the ability to use economies of scale to buy large amounts of goods from suppliers at low prices and set minimal profit markups and then to pass these savings onto its customers by providing high quality products at lower costs.... [tags: Strategic management, Business model, Economics]
1367 words (3.9 pages)
- I. Introduction The term business model gained popularity due to “the explosive growth of new ventures sparked by the internet”1 and is often erroneously used “to glorify all manner of half-baked plans”.2 Strategy is another “buzzword” that is often mistakenly used interchangeably with business model. There are numerous differences between the two but the defining characteristic is that a “business model is independent of competitors and the current state of the market”,3 focusing inwardly to describe, “as a system, how the pieces of a business fit together”.2 Strategy focuses on performance, looking outwardly at the industry, analyzing the current competition, future competition, supplie... [tags: Business Model, Internet, Strategy]
1051 words (3 pages)
- Introduction In 1854, 39 year old Daniel McCallum became the general superintendent of Erie Railroad, at that time one of the world’s largest railroad companies. Within months after taking over, McCallum noticed inefficiencies within the operating costs of the business (Makamson, 2000). As such, McCallum designed and laid out the first principles of organizational structure. The purpose of his organizational design was to enable a large business to operate as efficiently as a small one.... [tags: Business Analysis ]
1730 words (4.9 pages)
- “Variety is the only constant” such is the saying of Heraclitus. What was true a century back holds true even today. A gradual change is the undercurrent of time. Change is in the air and retail business cannot lag behind. Plan your change model, check out the long-term and short-term strategies and alter the entire retail landscape. From ancient times till now, it's always about survival of the fittest. Evolving your business to survive whether it’s a high end retail chain selling luxury watches, jewelry or handbag planning a good business scheme for international expansion becomes crucial.... [tags: change model, business retailers, e retailers]
1434 words (4.1 pages)
- Introduction ING is a company with a “broad customer base, including individuals, families, small businesses, large corporations, institutions and government” that has been doing business for over 150 years. ING's structure makes acquisition much easier due to the amount of capital on hand and their ability to absorb competition instead of fighting them. Acquisition does not always end with the most favorable result but is able to further ING's footprint on the market and gives the company more opportunity in the future.... [tags: Business Analysis ]
1328 words (3.8 pages)
- The Business Model Michael Lewis (2000: pages 256-257) scoffed at the whole attempt to formalize the definition of business models when he wrote that “ “Business Model” is one of those terms of art that were central to the Internet boom: it glorifies all manner of half baked plans. All it really meant was how you planned to make money.” In an abstract of his paper “A Mesoscopic Approach to Business Models: Nano Research on Management” published in “Economic Issues in China” Dr. Junyi Weng stated that “Business Model, a well known important and extensively used term by media, management consultancy and business top managers, is just in an embarrassment that there is no consensus about its... [tags: Business Management Essays]
1122 words (3.2 pages)
- DOING BUSINESS IN SINGAPORE BACKGROUND Founded as a British trading colony in 1819, Singapore joined Malaysia in 1963, but withdrew two years later and gained its independence. It subsequently became one of the world’s most prosperous countries, with strong international trading links, (its port is one of the world’s busiest) and with a per capita GDP above that of the leading nations of Western Europe. Singapore is located in the South-eastern Asia, islands between Malaysia and Indonesia. Because of this strategic location, Singapore has been known as a trading center almost continuously since the 7th Century, when it was a Sumatran seaport called Temasek.... [tags: essays research papers]
1329 words (3.8 pages)