Introduction of International Netherlands Group
The International Netherlands Group was a global financial services company of Dutch Origin. It was one of the largest financial institutes in the world and ranked as one of the top ten companies just within Europe (Schotter, 2006). With more than 120,000 employees, the International Netherlands Group provided banking, insurance and asset management service in more than 50 countries. ING was the first European enterprise to enter the market of life insurance in countries such as Japan, Taiwan and South Korea. Due to the rapid economic growth, rising incomes and popularity of insurance products in Asia/Pacific countries, the insurance industry in Asia was expected to expand and grow significantly …show more content…
However, once the emerging market begins to slow down, the business emphasis will be placed on the competition of the insurance firm. Therefore it is recommended that regional marketing managers creates marketing plans for the their regions and instruct local officials to customize plans for a specific market. Similarly, the consulting firms may have already given Kemp many proposals that could improve the company’s current short-term issues, but none of the consulting firms addressed Kemp’s concerns regarding functional managers at the regional office and the business unit managers in the countries. One of the best ways to solve such problem is to start from the management of human resources. As mentioned before, the ambiguity of the responsibilities of regional managers can cause insecurities and uncertainties when dealing with issues on a global level. According to Hitt et al., expansion into global operations in different geographic locations or markets can produce greater uncertainty and risk (Hitt et al., 2014). Therefore unit managers are suggested to have more direct involvement with their specific business units. Such direct involvement would assist the managers to improve connections between different countries/units therefore assist their problem solving skills. Pointing out specific tasks of the functional managers will help improve vertical integration of the company and decrease the amount of time needed for information and new plans to travel from the top of the company to the bottom. Allowing regional managers to better understand what their exact duties are could make the entire organization more efficient on a global
The International Netherlands Group was a global financial services company of Dutch Origin. It was one of the largest financial institutes in the world and ranked as one of the top ten companies just within Europe (Schotter, 2006). With more than 120,000 employees, the International Netherlands Group provided banking, insurance and asset management service in more than 50 countries. ING was the first European enterprise to enter the market of life insurance in countries such as Japan, Taiwan and South Korea. Due to the rapid economic growth, rising incomes and popularity of insurance products in Asia/Pacific countries, the insurance industry in Asia was expected to expand and grow significantly …show more content…
However, once the emerging market begins to slow down, the business emphasis will be placed on the competition of the insurance firm. Therefore it is recommended that regional marketing managers creates marketing plans for the their regions and instruct local officials to customize plans for a specific market. Similarly, the consulting firms may have already given Kemp many proposals that could improve the company’s current short-term issues, but none of the consulting firms addressed Kemp’s concerns regarding functional managers at the regional office and the business unit managers in the countries. One of the best ways to solve such problem is to start from the management of human resources. As mentioned before, the ambiguity of the responsibilities of regional managers can cause insecurities and uncertainties when dealing with issues on a global level. According to Hitt et al., expansion into global operations in different geographic locations or markets can produce greater uncertainty and risk (Hitt et al., 2014). Therefore unit managers are suggested to have more direct involvement with their specific business units. Such direct involvement would assist the managers to improve connections between different countries/units therefore assist their problem solving skills. Pointing out specific tasks of the functional managers will help improve vertical integration of the company and decrease the amount of time needed for information and new plans to travel from the top of the company to the bottom. Allowing regional managers to better understand what their exact duties are could make the entire organization more efficient on a global