Posted: December 9th, 2022

Get research paper samples and course-specific study resources under   homework for you course hero writing service – Manage ment of Pt.Asuransi Jiwasraya

INTI College Indonesia| Organization and Get research paper samples and course-specific study resources under   homework for you course hero writing service – Manage ment| PT. Asuransi Jiwasraya| | Jessica Khou, Afifa Jindan, Jocelyn Halim| 3/8/2013| Mr. Jonny Wiguna Jl. Ir. H. Juanda No. 34, Jakarta Pusat 10120, Indonesia 8 March 2013 Dear Mr. Jonny Wiguna, Presented to the commissary of this organization, this is a managerial report for the period of 2014: 2024 – Essay Writing Service. Custom Essay Services Cheap-2013. As requested in a meeting conducted on February 2013, this is a report of the managerial status of this organization as observed during the present year.
This report consists of matters regarding the management theory used to conduct the business, the environment surrounding the organization and inside the organization itself, defining the structure of the organization’s employees as well as their determined tasks as well as the regulation of activities in the organization. Also discussed in this report are the management strategies currently applied by the organization and what is observed to be motivating for the employees in the organization.
Following all the observed and described matter, this report also includes several suggestions that, as the writer of this report believe, will be beneficial in terms of the optimization of performance of human capital and allocation of resources. ______________________ (Claire Afifa Halim) 8 March 2013 EXECUTIVE SUMMARY The report provides an analysis of the management of the PT. Asuransi Jiwasraya. It addresses the issues related to the current management system and provides an information of how the company is in relation to its environment.

The report also consists of recommendation regarding the improvement of the current management system in order for the company to reach its current goal. Analysis is completed by observing the activities and achievements of the company in the latest years of its business. To find out the general management form of the company, identification of the theory that most resembles the current management system is conducted. As a result of the observations, it can be summarized that the company has an overall supporting environment for its business.
The model of management used closely resembles Max Weber’s management theory and therefore the company’s structure and jobs are clearly defined and allows the company to be developing in its professionalism. PT. Asuransi Jiwasraya has also applied good motivational  methods that allow it to create good relationships between the employees of the company. However, as observed by the writer of this report, the growth of the company is not at its maximum potential.
Several factors that is found to be holding the company back are the lack of promotional effort, loss of flexibility (initiative) and personal motivation of the employees due to the current management system used, inability to utilize technology effectively, limitation of growth space because of the limitation of target market and the fact that the company has not yet responded to one of the major insurance need of Indonesian. Recommendations made for the company thus include: 1. To create a syariah based insurance service for the Muslim majority of Indonesians 2.
Focus more on each individual employee to develop the quality of workforce 3. Use technology in its effort to market the product 4. Increase the budget allocated for promotion and increase the frequency of promotion such as through the use of billboard, magazines and online advertisements 5. Become more globalized to reach their long-term organizational goal of being recognized globally TABLE OF CONTENT 0. 1 Introductions………………………………………………………. ……………….. 1 0. Company Backgrounds………………………………………………………….. 2 0. 3 Get research paper samples and course-specific study resources under   homework for you course hero writing service – Manage ment Theory……………………………………………………………… 3 0. 4 Company Environment…………………………………………………………… 4 0. 5 Organizational Structures………………………………………………………. 0. 6 Motivation……………………………………………………………………………. 0. 7 Strategic Get research paper samples and course-specific study resources under   homework for you course hero writing service – Manage ment…………………………………………………………… . 8 Conclusion and Recommendation……………………………………………. 0. 9 List of References……………………………………………………………….. 0. 1  INTRODUCTION 1. 1 Authorization This report is made in order to give further feedback for the company called PT. Asuransi JIwasraya. 1. 2 Limitations Because we don’t have a chance to visi t 1. 3 Scope of Report This report will cover several detail points, such as management theory that been use by PT.
Asuransi Jiwasraya, the company’s environment, it’s also show the organization structure inside PT. Asuransi JIwasraya with their job description, and we also going to explain about the motivation inside the company, and the strategic management process that have been use by the company, we also included our recommendation to increase the effectiveness and efficiency of company management system. 0. 2  COMPANY’S  BACKGROUND Pt. Asuransi Jiwasraya is a life insurance company that has been established since the year 1859. The motto of the company is “secure your life”.
PT. Asuransi Jiwasraya’s vision is to “become a trusted and preferred company to provide a solution for insurance needs and financial planning. “(http://www. jiwasraya. co. id/static. php? cat_id=1&id=8&lang=id) It focuses on providing life insurance for customer and helping customer make financial plans in accordance to the developing environment where making financial decisions become more challenging. The company is owned by the governments and is a trustworthy company that has been a preferred insurance provider by several big companies.
Although it is already big itself, the company faces competition and is trying to become one of the five top insurance company in Indonesia and even tackles competition from the global market. To do this the company focuses on improving the effectiveness and the efficiency of the work by improving the quality of workforce, technology and by trying to reach segments that have not yet been reached previously. New products are always developed in order to meet the ever-changing needs of customers. PT.
Asuransi Jiwasraya develops its professionalism in the business and has currently won several awards including a Superbrand award for the category of Consumer’s Favorite Brand. Other than that it has also won a World Finance Award for the second time in the year of 2011. In all its business efforts, the organization builds good relationship with both the employees and the society in general through social activities. The company’s subdisiaries include: PT. Stannia Binekajasa and Koperasi Karyawan Jiwasraya. 0. 3  MANAGEMENT THEORY
The management theory that have been used by PT. Asuransi Jiwasraya, as observed, can be identified as  Max Weber’s theory of management. The management theory of Max Weber is made in the early year of 1900, this management theory are based on the theory of authority structures and relations is based on an ideal type of organization Weber called a (bureaucracy). The bureaucracy that Weber have make should have a division of labor, authority hierarchy, formal selection, formal rules and regulations, impersonality, and career orientation. The goal of weber making his scientific management theory is to make the work activities can be done in the large group. PT. Asuransi jiwasraya is a quite large group. Thus, it uses Weber management theory because allows this company running their business more effectively and more efficiently. PT. Asuransi Jiwasraya encourage workers  to work according to the procedure that the company has made, as evidently shown in the clear roles of several department that are specified in its website. The company has made a structure of work for individual departments so as to increase efficacy and efficiency and reduce redundant effort on issues.
Each worker can focus on the task assigned specially to them, so that the workers can work well to satisfy the customers’ needs and wants. PT. Asuransi Jiwasraya can be said to have a division of labor as tasks are spread out among the workers. PT. Asuransi Jiwasraya also have a formal selection in selecting people to work in their company, they selected the people based on their technical qualifications. This is because PT. Asuransi Jiwasraya want their workers to be professionals in their scope of work and have the integrity and competence in all the work especially in the field of insurance and financial planning.
PT. Asuransi Jiwasraya also have  formal rules and regulation, they have the  standard operating procedure that is clear to all the unit of work, all the workers also have to provisions a minimum level of health of the company (RBC), and all the workers have to listen to the customers, identify, meet and even exceed the customers’ needs as well as anticipating the customers’ needs in the future. The workers are also expected to adjust according to the customer’s expectations. PT.
Asuransi Jiwasraya also have career orientations where managers are career professionals not owners of units that they manage, sot  in this company the managers make sure that the workers work well to satisfy the customers’ needs and wants but the managers is not the owners of what they manage. In PT. Asuransi Jiwasraya the owners are the shareholders. So because of that PT Asuransi Jiwasraya are using the management theory’s of Max Weber because PT. Asuransi Jiwasraya has fulfilled the bureaucracy of Max Weber. The Max Weber’s theory is favorable to the company because it allows the company to focus its effort on its clear formal goals.
Government’s company are also prone to be said as full of corruption, collusion and nepotism; Max Weber’s theory of management as a model used by PT. Asuransi Jiwasraya can reduce the chance of the issues as employees are appointed based on their performance and competence instead of their favorability among the workers. 0. 4  COMPANY’S ENVIRONMENT Environment are divided into two:  micro and macro. According to businessdictionary. com, micro environment is defined as “factors or elements in an organization’s immediate area of operations that affect its performance and decision-making freedom” (http://www. usinessdictionary. com/definition/microenvironment. html) micro enviroment consist of  customers, suppliers, competitors, and pressure groups. 1. Customer. PT . Asuransi Jiwasraya is customer’s oriented there for customer’s are of  significantly  high importance to the company. Thus, all the products develop by Jiwasraya is base on specific segmentation of its customer’s the products that are available until now are tailored to meet the needs of these groups of customers: a. Averse investor (example product: JS Plan Dollar) b.
Adult with children (example product: Dana Multiproteksi Plus c. People in general (example: Asuransi Kecelakaan Diri) d. Organizations(example porduct: Asuransi Kesehatan) e. Old people (example porduct: Jaminan Hari Tua f. Students (example porduct:JS Prestasi) g. Workers (example porduct: Dana Fleksibel) 2. Suppliers. Get research paper samples and course-specific study resources under   homework for you course hero writing service – Manage rs  must ensure that the daily requirement (supplies) that is needed by the company are sets in the lowest price, and the manager have to ensure that the suppliers delivers the needed inputs right on time.
So the managers of PT. Asuransi Jiwasraya have to make sure that all the things that the company needs to keep the company running has been fulfilled by the suppliers, because suppliers not only have to cover up the equipment for the company, also provide the financial and labor inputs, so to keep the performance of PT. Asuransi Jiwasraya , the managers of PT. Asuransi jiwasraya  have to choose  the suppliers wisely, because suppliers is one of the important things to keep the performance of the company. 3. Competitors.
In all types of organizations, profit or non-profit have competitors, and managers cannot afford to ignore the competitors. PT. Asuransi Jiwasraya  also have many competitors, and they can’t change that, but they can avoid the competitors by giving better performance to the customers. Competitors can be a positive influence or a negative influence. A healthy competition encourages businesses to pursue the fulfillment of the needs of customers, thus increasing the quality of product and satisfy customers better.
But if company is unable to keep up with the competition in the market by  utilizing all resources, then it may become a bad influence resulting in the fall of the organization as a whole. Example of PT. Asuransi Jiwasraya’s competitors include: PT. Asuransi Jiwa Manulife, PT. Prudential Life Assurance and PT. Asuransi Jiwa Sinarmas. 4. Pressure groups are groups of “Non-profit and usually voluntary organization whose members have a common cause for which they seek to influence political or corporate decision makers to achieve a declared objective.
The managers must recognize the  special interest groups that attempt to influence the actions of organization. However, it does not seem that the company has any pressure group. The second environment is macro environment. According to businessdictionary. com Macro environment is define as “The major external and uncontrollable factors that influence an organization’s decision making, and affect its performance and strategies” (www. businessdictionary. com/definition/macro-environment. html#ixzz2NSE44Kgp) macro environment consist of: 1. Economic conditions. http://www. worldbank. rg/en/country/indonesia/overview Indonesia continues to make a significant economic growth, in July 2014: 2024 – Essay Writing Service. Custom Essay Services Cheap the baseline outlooks for Indonesia is 6% and increase to 6,3% on the year of 2013, and because of that the country gross national income is rise from $2. 200 in the year of 2000 to $ 3. 200 in the year of 2009. So it also make a good impact for the financial management of PT. Asuransi Jiwasraya. 3. Political conditions http://asean. fta. govt. nz/indonesia-political-situation/ http://directaction. org. au/issue35/currents_undermining_indonesian_political_stability http://www. orbes. com/2009/07/17/indonesia-jakarta-economy-hotels-opinions-contributors-yudhoyono. html Indonesia has a quite stable political condition. Legal rules are established and internal conflicts have currently subsided. Indonesia has also improved in terms of its democracy as the dictatorship of Suharto was ended. Despite different political issues such as corruption and legal reformation, Indonesia was able to tackle difficulties in politics such as the bombing that happened last year. Due to this stability in political environment, companies in Indonesia including PT.
Asuransi Jiwasraya enjoy predictable influence of law on their business. In other words, any loss derived from legal system fluctuation can be eliminated. The major political flaw of corruption in Indonesia however, does affect the business in a negative way, as it creates a negative perception of any government-related organization in the mind of its citizens. 4. Sociocultural conditions. Every customers have a changing attitudes and response. So managers must adapt their practices to changing expectation of the society, as this value, custom change so managers must also change. PT.
Asuransi Jiwasraya is offering a program to make the customers feel secure in every aspect of their life, So the managers’ job is to make a new innovation to make the customer more satisfy and feel more secure. So PT. Asuransi Jiwasraya can meet the changing expectations of the customers. In Indonesia, majority of the society is Muslim. This means that there is a need for the company to understand that services, especially a monetary service such as insurance has a differentiated regulations to the people of Indonesia, aside of the government regulation. The company should respond to this by giving an appropriately related service. . Technological conditions. The ever increasing complexity and power of technology also affects the organization. All companies in the current era have to be able to take advantage of technology development. This is because it can increase the value of work done. As a part of a society where technology is growing rapidly, PT. Asuransi Jiwasraya has adapted to the technology and utilizes some beneficial technology to help its processes. In the process of communication, for example, PT. Jiwasraya have always tried to apply the latest in communications technology complements the speed and accuracy of service.
The technology is called the JL-Indo and V-SAT. Through Indo JL-policy printing process can be done at the branch where the policy issued, while the V-SAT is a communications technology that connects the entire office PT. Jiwasraya both Head Office, Regional Office or Branch Office into a single unit (on line). PT. Jiwasraya use this technology to support for having effective communication environment. Other than that, the company has also taken advantage of the limitless possibility of internet such as through the creation of website and the establishment of e-procurement system. . 0   COMPANY ORGANIZATIONAL STRUCTURES Get research paper samples and course-specific study resources under   homework for you course hero writing service – Manage rs and their job descriptions: Board of Comissioner: 1. Djonny Wiguna 2. M. Sapta Murti 3. Sumiyati 4. Sumyana Sukandar Comissioners are the government’s officials that are in charge of the company as a whole. Comissioners make company regulations and decides on policies regarding external factors of the company such as lands and environments. Comissioners also train and employs people for the managerial positions in the company. (http://www. mrsc. org/subjects/governance/responsibilities. aspx) Board of Directors: . President Director: Hendrisman Rahim The president director have a job to leading the implementation of the management company for the interests and objectives of the company, the president director also have to be the coordinator of all the other members of the Board of Directors in carrying out the duties and authority of the Board of Directors are set out in the Articles of Association, the president director have the responsibility to oversee the Secretariat Division and the Division of Internal Control Unit. 2. Director of Coverage: Hendrisman Rahim
The director of coverage have a job to setting the culture of the company, director of coverage also have a job to developing strategy and direction for the company, director of coverage also have a job leading the executive/senior management of the company (including firing and hiring) . 3. Directors of Marketing: De Yong Adrian The marketing director is responsible for the entire operation of company’s marketing department, the director of marketing have the responsibility to make the company is known by the customer’s, the directors of marketing also supervises and coaches the company’s marketing team. 4.
Directors of Finance: Hary Prasetyo Finance Director has overall control and responsibility for all financial aspects of company strategy and is expected to analyse figures and implement recommendations based on these findings with the most profitable outcomes, the financial management often managing and leading a team through difficult periods including month end, year end and annual budgeting, a Finance Director would have excellent communication skills with all levels of staff, often having to work with various departments to help them plan and manage their own budgets. Division Heads: 1. Division Head of Secretariat: Sumarsono
Secretariat is defined as the administrative department of governmental organization(http://www. merriam-webster. com/dictionary/secretariat). The administrative department is usually responsible for daily accounting, organizational agenda and of messages from and to the organization. A secretary as a part of the secretariat is also responsible to assist directors. 2. Division Head of Internal Control Unit: Erry Syafruddin This division’s work is to make sure that all the units in the company work in accordance with the predetermined objectives and evaluating work quality of people working in the organization.
They also check documents that are related to observed issues filed by the directors as well as preparing appropriate letters of response 3. Division Head of Finance Accounting and Collection: Danang Suryono Finance division head’s task is to solve issues related to finance. The department of finance makes financial policies for the sake of the company and report any error to directors. Finance division head creates the budget plan of the company and forsee any financial chance or problem that the company may face. 4.
Division Head of Investment: Syahmirwan This division makes policies and plans on what assets the company should invest on or sell in order to keep the company’s financial attributes strong. The division monitor allthe assets owned by the company and calculate investment risks for the company. 5. Division Head of Human Resources:  Udhi Prasetyanto Deals with the planning and organizing of human capital of the company. Resolves any problems between the workers of the company and file the profiles of individual employees.
Is also responsible to consult the workers in relation to their work and any complaints about the company, thus making them in charge to file complaints to the different departments in the company. The division manages the placing of new employees and making sure that new employees are able to do their expected work. Training and internship are also the fields that  human resource department are responsible for. 6. Division Head of General and Fixtures:  Kompyang Wibisana The division head of general and fixture have a job to construct the annual work programe for PT .
Asuransi Jiwasraya for the year, the head of general and fixtures also have responsibilities to implement administrative affairs public relations and cooperation with other parties, the head of general and fixtures also have to do the storage, distribution and maintenance of equipment items. 7. Actuarial Division Head: Iswardi Division that computes the risk and probability of death, marriage and birth and help insurance company determine their rate based on the statistical observation result.
The division makes sure PT. Asuransi Jiwasraya obtain profit from the determined rate of service. 8. Head of Division of Underwriting Retail ; Corporate:  Umi Ratih Underwriting retail is the one who have responsibilities for providing effectiveness and efficient management of all underwriting department, this includes overseeing that the underwriting of all loan types offered by HomeStreet Bank, occurs in a timely manner and in accordance with company and investor guidelines. . Head of Division of Agency Retail ; Corporate: G. Agung Nugraha Susanta The head of agency retail have to be responsible to development as per retail standards and ensuring adherence to timelines, Division of agency retail is a people who is responsible for selling the product of PT. Asuransi Jiwasraya that only in the form of retail and also have to manage all the management of agency retail in PT. Asuransi Jiwasraya. 10.
Division Head of Retail ; Corporate Selling:  Fitriansyah The head of retail and corporate selling have a job to watch and coordinate all the governments and staff division of retail and  corporate sales according to the p of control, head of retail also have to coordinate and be responsible for the creation of command updates in accordance with the development of market industry insurance matters relating to strategy (Pattern) Retail and corporate sales. 11.
Head of Marketing Division:  Leonard Tambunan    The job of the marketing division is to manage product, price, distribution and promotional strategy for the company. This means that the division plans on what products to be made, where it will be marketed, and the price of the product and how to create better company image while meeting the needs of the costumers through the value of the product. 12. Division Head of Information Technology:  Ari Faizal Aliaini The division head of information have a job to oversee the development, implementation, and use of technology throughout the firm.
The division head of information technology also have the responsibility to range the information systems and telecommunications activities, including determining user requirements, recommending practical solutions, and leading firm-wide efforts to improve the effective use of technology, the division head of technology also have responsibilities to provide expertise and support during system upgrade, installation, conversion, and file maintenance. 13.
Division Head of Pension Fund Financial Institution: Lusiana The division manages the fund specified for the pension fund for the employees that retires from the company due to age, health or disability factors. It ensures that retired employees are given their rights so that they may gain benefit as they have been beneficial to the company during their year of services. In this way, the company continues to make employees feel that they are appreciated. In general, Division Heads are responsible of supervising management staffs properly.
They are expected to be in charge of interpreting regularizations into policies that the division should follow in their activities. Division Heads are also in charge of making necessary changes and proposing plans regarding their divisions in a way that will help the division to develop. One of the jobs of a division head is to be a leader for the people who work in the division. Therefore, a division head should be able to aid the workers, oversee and evaluate their work and give proper feedback to the workers. Other than that they are responsible to create a good relationship between the division and customers in general. http://www. bestsamplejobdescription. com/director-job-description-2/division-director-job-descriptio/) Regional Get research paper samples and course-specific study resources under   homework for you course hero writing service – Manage rs: 1. James Tomasoa Jakarta I Regional Get research paper samples and course-specific study resources under   homework for you course hero writing service – Manage r 2. Saripudin Bandung Regional Get research paper samples and course-specific study resources under   homework for you course hero writing service – Manage r 3. I Nyoman Surata Semarang Regional Get research paper samples and course-specific study resources under   homework for you course hero writing service – Manage r 4. Eddy Susanto Surabaya Regional Get research paper samples and course-specific study resources under   homework for you course hero writing service – Manage r 5. Libertus Ompusunggu Makassar Regional Get research paper samples and course-specific study resources under   homework for you course hero writing service – Manage r 6. Bachruddin Manado Regional Get research paper samples and course-specific study resources under   homework for you course hero writing service – Manage r 7. Novi Rahmi Palembang Regional Get research paper samples and course-specific study resources under   homework for you course hero writing service – Manage r 8. Sulik Harsono Malang Regional Get research paper samples and course-specific study resources under   homework for you course hero writing service – Manage r 9. Jumino Balikpapan Regional Get research paper samples and course-specific study resources under   homework for you course hero writing service – Manage r 10. Karmanto Pekanbaru Regional Get research paper samples and course-specific study resources under   homework for you course hero writing service – Manage r 11. Dafras Jakarta II Regional Get research paper samples and course-specific study resources under   homework for you course hero writing service – Manage r 12. Dwi Laksito Pontianak Regional Get research paper samples and course-specific study resources under   homework for you course hero writing service – Manage r 3. Rotua Pasaribu Medan Regional Get research paper samples and course-specific study resources under   homework for you course hero writing service – Manage r 14. Adi Susanto Denpasar Regional Get research paper samples and course-specific study resources under   homework for you course hero writing service – Manage r 15. M. Idris Cirebon Regional Get research paper samples and course-specific study resources under   homework for you course hero writing service – Manage r 16. M. Arifin Yogyakarta Regional Get research paper samples and course-specific study resources under   homework for you course hero writing service – Manage r 17. Supardi Sudiro Jakarta III Regional Get research paper samples and course-specific study resources under   homework for you course hero writing service – Manage r Regional managers are responsible for driving sales in the area of their responsibility through good leadership, customer-relationship and strategies. In businesses where the product is in the form of goods, they are responsible for merchandising of the business, but as PT. Asuransi Jiwasraya is a service company, regional managers are not expected to be responsible for merchandising.
Regional managers must be able to communicate the company’s goals to each individual stores in its region. They also have to monitor that all activities are done in accordance with the regulations of the company and that all conduct meets the expectancy of the corporation. (http://www. paper-source. com/jobs/Regional- Get research paper samples and course-specific study resources under   homework for you course hero writing service – Manage r-Job-Description. pdf) 6. 0  COMPANY MOTIVATION Every company must have a goal that needs to be achieved, to do that every company have to be capable of using all of resources that the company has including human resource. Human resources are very important on every step that the company has made.
The success of the company  is depends on its performance. The performance of the workers inside the company depends on: personality and ability, task difficulty, resource availability, working conditions and chance or luck. But besides that, another important factor that contributes to performance is the motivation given by the company to its workers is given by the company. One of motivation that is given by PT. Asuransi Jiwasrayal is  by  providing the compensation monetary. Compensation monetary is a motivation that is given by the company by  giving the  employees a reward in the form of money.
And  the result is, PT. Asuransi Jiwasraya has successfully gaining the performance of the workers. PT. Asuransi Jiwasraya also can motivate the employees by making many events that can allows relation of employees to grow. So by making many events between the employees it can gaining the sense of belonging of the customers. PT. Asuransi Jiwasraya have a program called “management performance system”  the goal from making this performance management system is to measure the performance of the workers work, and  the result is that the employees on PT.
Asuransi Jiwasraya not yet giving the best of their performance. The desire for the employee’s to achieve the goal of the company are still small, because of that reason PT. Asuransi Jiwasraya is motivating employees by giving a job enlargement to the employees. By giving the job enlargement it can make the employees to dedicate more effort into their jobs, So it can make the employees feel that they have to achieve more  than what the company has expected, so it make a good motivation for the employees, and also give a good impact for the company performance because the employees will act in the company’s favor. . 0 Company’s strategic management process 1. Identifying the company’s current mission, goals and strategies: Company’s mission: Provide certainty, security and convenience through the use of competitive and innovative solution to customers in need of insurance and financial planning. The company’s current goal is to be one of the top five biggest insurance company and to in long term becomes a globally known insurance company. 2. Identifying external factors: Opportunity and threat:
The opportunity that arises for companies in insurance service providing business for the year of 2013 is the trend of increasing number of people purchasing insurance online. The threat faced by the companies is the fact that insurance company often mis-sell their product. This means that an insurance company might have sold their product to people who really does not need the product. Another threat faced by the company is people’s negative attitude towards insurance company, as claiming any compensation is assumed as a complicated process. 3.
Identifying internal factors: Company’s strength: 1. The company has been established for a long time, so it has a strong fundation 2. It is a well-structured company and jobs are defined clearly for everyone in the company allowing them to focus on their individual task, thus developing professionalism 3. Strong relationships between the company’s employees 4. Has won awards that may increase its credibility in the eyes of potential market including a “Best Life Insurance” award 5. Has established connection with other trusted companies 6. PT.
Asuransi Jiwasraya has gained its customer’s loyalty as proven by its award in 2005: “Indonesian Customer Loyalty Award” Company’s weaknesses: 1. The company’s background theory, the Max Weber theory of management results in the loss of flexibility. 2. The company is very oriented towards satisfying a limited group of people which is Indonesian people that everything is established in a strong Indonesian culture. 3. The lack of promotional effort 4. The company has yet to utilize technology in its benefit to its maximum potential Formulating strategies
These are the strategies used by PT. Asuransi Jiwasraya: The current strategy applied is new product development, improvement of the quality of human resources and investment on information technology. 1. New product development. The company continues to create new products that serve the needs of the customers better. For example, in the year of 2014: 2024 – Essay Writing Service. Custom Essay Services Cheap, the company created 5 traditional products and 2 “unit-linked” products which are claimed to be more flexible as the customer can take fund out and invest more fund after 6 months of the first investment. http://www. jiwasraya. co. id/detailberita. php? id=486&lang=id) 2. PT. Asuransi Jiwasraya tries to penetrate market of different segment. The company continues to grow but as the target of increase is not reached, the company expands its area of srvice by targeting new market segment which is of the younger group of people. The insurance company produces new roduct that brings benefit especially to students. (http://keuangan. kontan. co. id/news/kinerja-jiwasraya-meleset-dari-target) 3. Improvement of quality of human resources . Utilization of technology in the organization for example the establishment of the e-procurement (online purchasing of insurance) by the company (http://systemloverz. wordpress. com/2014: 2024 – Essay Writing Service. Custom Essay Services Cheap/12/14/penerapan-e-procurement-untuk-mewujudkan-good-corporate-governance-di-bumn/) 5. Increasing the number of agents in the organization 6. Establishing and maintaining beneficial relationship with other companies 7. Gain positive reputation through different charitable actions The company has a good strategic management process.
The flaw to the strategy is that the company is very focused on its goal of reaching more premium and of creating better quality products that the company seem to neglect the fact that promotion is an important part in business. The company needs to increase its budget on advertising and its frequency of advertising. They need to establish ways for target market to find out about them rather than letting the target market find them by chance. This is also true as some people makes their choices based on the fact that the company

Order | Check Discount