ING Insurance Asia/Pacific
Synopsis
ING Insurance Asia/Pacific Company is founded in 1991it a banking sector, which deals with all tasks of banking sector tasks. Its headquarters is in Amsterdam. It is the world’s largest banking sector with $150 billion per annum gross receipt and it is the 18th largest corporation by revenue. Its worldwide branches are in more than 40 countries overall. In this case, mentioned are the issues or problems occurring due to the change in the management. (Alan M Rugmanr, 2004)
The old perspective was not very efficient for the company as it has some flaws. Therefore, the newly appointed CEO Jacques Camp appointed in 2003 examined the whole scenario of the management and fined some flaws in the management of the company. (Alan M. Rugman, 2003)
In 2002 when he was the regional manager of the company, he observed this all and by improving these issues with its best efficiency in the working. He within one year appointed as the CEO of the company. (Randall S. Schuler, 1993)
Jacques was concerned with the situation that if the company had to face the situation of inflation at any time then how the company will act to avoid or to cop up with such situation. Because these situations if stayed in the company then the company will not be able to get high success in competition with other competitors. (Verbeke, 2003)
As Jacques Kemp, What Is Your Size-Up Of ING Insurance Asia/Pacific?
The strategies that Kemp applied in order to get best results with improvised management situation the results are although very best but Kemp has a feeling that something is still missing. This has to be corrected or solved. During some outside meetings with other managers and other units’ supervisors and leaders, Kemp gathers the reviews and had a pressure on its self to improve the situations and efficiencies of the organization. Kemp is advised by his seniors to improve the relationship on positive basis between regional managers, leaders and other higher authorities with the junior staff or other business workers who are working individually in that company.
He performed many comparative working of each departments report but it made its task more complicated and difficult as too many data needs to be accomplished at one level is very difficult and time-consuming as well. However, it is the only method of sizing up so he created many teams in each department and assigns them different tasks related to checking the efficiency of the management working. Some problems occur which may be observed by the non-cooperation of some local bodies involve in the company as outside units.
What Kind Of Changes Do You Propose?
In order to improve the situation, which is worse Kemp, consulted with some very much efficient consultants that what should do now to improve the worse situation in the company. He consulted with McKinsey and Company, Monitor and Boston consulting group BCG. These are the best consulting groups or persons at that time, which give you the best solution to your problem. They when observed your company’s audit and financial reports and they visited the office or headquarter as well to observe the atmosphere according to their consulting point of view. They analyzed and find some specific issues in some specific areas or departments of the company, which they described to the Kemp, are the portfolio management or the Human resource management department as a front view to observe and correct or resolve the issues in.
These issues were analyzed by McKinney group the Monitor group observed the issue of proper branding in all departments of the company, while BCG group analyzed the problem of more focus on building financial and other organizational skills among the organization’s employees. Also identified some key strategies that are needed to be improved on an urgent basis like marketing, manufacturing, R&D etc.
What Major Challenges Are You Likely To Encounter In Trying To Implement Your Changes?
The major and somehow difficult situations and challenges that may happen in order to implement changes each department of an organization may be mostly in HR and Marketing department. As we know HR department is concerned with the hiring and firing of the employees the firing of old ones and hiring the new ones takes too much time and it needs too many effort or procedure as well. To implement these changes Kemp needed full backend and frontend support of all of its team members and consultants guidelines as well. There was a problem in connecting with the outsource unit with regional managers and operational managers a swell in order to communicate and transfer each other’s discussions as well.
Kemp suggested implementing but there came some problems like lack of awareness of junior staff employees about the new strategies implemented, lack of intercommunication of senior staff with juniors etc. This problem was resolved by Kemp as a regular weekly basis short meetings with all departments staff one by one. In addition, make their access easy towards there seniors so they can easily resolve and discuss their issues by proper consulting with them. This makes the task easy and implementation of new strategies and changes become convenient as well. (Richard Ivey school of business, 2009)
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References
- Alan M Rugmanr, A. V. (2004, January 8). A perspective on regional and global strategies of multinational enterprises. Retrieved from https://link.springer.com/article/10.1057/palgrave.jibs.8400073
- Alan M. Rugman, A. V. (2003). Regional And Global Strategies Of Multinational Enterprises. 1-56.
- Randall S. Schuler, P. J. (1993). An integrated framework of stretegic international Human Resource Management. 19 (2), 491-459.
- Richard Ivey school of business. (2009). ING Insurance Asia/Pacific. 541-557.
- Verbeke, A. (2003). The evolutionary view of the MNE and the future of internalization theory. 498-504.