Strategic Management of Life Insurance Companies

Author: Wan Feng
Publisher:
Publish Date: 2005-06-01
Features: In the era of the knowledge economy, there are two important issues in modern enterprises: one is the strategic issue, and the other is the operational strategy issue. Operational strategy focuses on short-term problems, while strategy considers long-term issues, determining the sustainable development of the enterprise and the competitiveness of its products. A good strategic plan should include the following aspects: an assessment of the external environment, an understanding of the company's market and customers, an analysis of competitors, the optimal development model and main obstacles of the company, an analysis of the company's ability to implement strategy, balancing the company's long-term and short-term interests, and key phased goals in strategic execution. An outstanding strategy should be clear and easy to execute, allowing implementers to understand it at a glance, rather than being confusing and obscure. The company's strategy must have authority, consistency, and transparency from top to bottom, which requires the strategy itself to be concise, clear, and easily understandable. Otherwise, it will lead to contradictions, incorrect information, and slow, ineffective actions.