Jackson National Life’s direction is being pushed to do more of their sales and communications online in order to compete with competitors and have a greater presence with their customers. Being seen as a trustworthy company is very important to Jackson National Life because it can lead the company to have a global presence. Jackson has created websites dedicated to corporate information, the ability to view their products, and to contact the company in multiple ways. Jackson National Life within the past few years has also created a social media presence with having a Facebook and Twitter pages. This is great for Jackson National Life because social media is an easy and great way for the company to advertise itself to social media users.
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The main capacity challenge is being able to have enough IT resources as well as being able to stay up to date with technology. The reason this is a challenge is because in today 's technology driven world, all transactions and records are stored electronically, this causes the need to have faster and more efficient technology as the company grows. Another capacity challenge is being able to find skilled labor. There is a lot of competition for skilled labor presently, being able to find more quality people has made Jackson National Life build and open more offices throughout the country such as in New York and Tennessee. Because there is a need for more people, another capacity challenge is that Jackson has had to extend on to their buildings such as their main office in Lansing, MI in order to fit more people into their company. Logistical challenges for Jackson National Life have gotten easier over the years because of the internet. Jackson National Life is required to send notices to their policyholders several times a year. About twenty or so years ago for example, this process would have consisted of forms to being sent in the mail which required employees to stuff the notices in envelopes and mailed directly to the policyholders. Now with the internet, a huge number of policyholders can receive their policyholders via email. Also for the customers that want to receive hard copies of notices, …show more content…
This is because many of Jackson National Life’s competitors have been in the insurance business for a long time. The solution to this problem is that Jackson National Life needs to come out with new and innovative products that the consumer wants. Jackson National Life needs to make sure that their products are efficient (meaning that it is at the lowest cost it can possibly be while still making profit), effective (meaning that their products will have the most value possible for the customer), and have value (meaning that their products are attractive to the customer). The second problem Jackson National Life might face is a major economic recession or a downturn in the economy. For example, from 2008 through 2012, the United States faced one of the worst economic conditions since the Great Depression. Many insurance companies had to lay off workers and some even went out of business. What Jackson National Life can combat this by financially responsible, simple things such as putting money away as well as keeping expenses low can help solve this problem. Just as the book, “Operations and Supply Chain Management” by Robert Jacobs, discusses about manufacturers making too much inventory, Jackson National Life does not want to over expand just in case the economy goes south (Jacobs & Chase, 2014). The third problem that Jackson National Life can struggle with is when to reduce
The main capacity challenge is being able to have enough IT resources as well as being able to stay up to date with technology. The reason this is a challenge is because in today 's technology driven world, all transactions and records are stored electronically, this causes the need to have faster and more efficient technology as the company grows. Another capacity challenge is being able to find skilled labor. There is a lot of competition for skilled labor presently, being able to find more quality people has made Jackson National Life build and open more offices throughout the country such as in New York and Tennessee. Because there is a need for more people, another capacity challenge is that Jackson has had to extend on to their buildings such as their main office in Lansing, MI in order to fit more people into their company. Logistical challenges for Jackson National Life have gotten easier over the years because of the internet. Jackson National Life is required to send notices to their policyholders several times a year. About twenty or so years ago for example, this process would have consisted of forms to being sent in the mail which required employees to stuff the notices in envelopes and mailed directly to the policyholders. Now with the internet, a huge number of policyholders can receive their policyholders via email. Also for the customers that want to receive hard copies of notices, …show more content…
This is because many of Jackson National Life’s competitors have been in the insurance business for a long time. The solution to this problem is that Jackson National Life needs to come out with new and innovative products that the consumer wants. Jackson National Life needs to make sure that their products are efficient (meaning that it is at the lowest cost it can possibly be while still making profit), effective (meaning that their products will have the most value possible for the customer), and have value (meaning that their products are attractive to the customer). The second problem Jackson National Life might face is a major economic recession or a downturn in the economy. For example, from 2008 through 2012, the United States faced one of the worst economic conditions since the Great Depression. Many insurance companies had to lay off workers and some even went out of business. What Jackson National Life can combat this by financially responsible, simple things such as putting money away as well as keeping expenses low can help solve this problem. Just as the book, “Operations and Supply Chain Management” by Robert Jacobs, discusses about manufacturers making too much inventory, Jackson National Life does not want to over expand just in case the economy goes south (Jacobs & Chase, 2014). The third problem that Jackson National Life can struggle with is when to reduce