Assessment of Strategic Management Practices
The case of EIC
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The most critical challenge facing most organizations today is coping up & dealing with a saturated market where there are many competitors & empowered & informed customers. Insurance companies besides the dynamism are highly vulnerable to challenges with high failure rate as they bear the risks inherent in their operation & the risks transferred to them by way of insurance. Insurance companies should they succeed in the business environment should have a sound strategic management system in place. Strategic management as a series of decisions to determine long term objectives includes the pha...
The most critical challenge facing most organizations today is coping up & dealing with a saturated market where there are many competitors & empowered & informed customers. Insurance companies besides the dynamism are highly vulnerable to challenges with high failure rate as they bear the risks inherent in their operation & the risks transferred to them by way of insurance. Insurance companies should they succeed in the business environment should have a sound strategic management system in place. Strategic management as a series of decisions to determine long term objectives includes the phases of environmental scanning, strategy formulation, strategy implementation and monitoring & evaluation. EIC, the leading insurance service provider in Ethiopia is one of the organizations applying strategic management. Under this book, assessment of strategic management practices of the Coporation has been conducted. Both qubtitative and qulaitative data has been employed for undertaking the assessment. The book is organized into five chapters.
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