RIC Case Study

1567 Words 7 Pages
Major stakeholders identified in RIC
• Operations manager
• Staff
• Policy holders
• Government
• General public
• Shareholders/owners
• Banks
Operations Manager
Mr. Stevens who is operations manager is the one who has most of the stakes in RIC as compared to others. Following are the stakes of Stevens
Mr. Stevens is responsible for all operations in the call Centre. This means for every problem occurring during operations, operations manager would be responsible for that. Such as poor forecasting done by operations manager makes him responsible for such bad performance.
Since Mr. Stevens is responsible for operations, he is the only one who is most responsible for changing policies. Reducing costs and improving operations are his duties. This
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Steven a major stakeholder in RIC.
The interests operations manager would be affected by matters such as:
• the remuneration, which consists of basic salary, pension rights, cash bonuses and share incentive schemes
• power and status
• career prospects
• Job security.

Staff
The 2nd most relevant and major stakeholder is staff of RIC.
Managers in the middle and junior ranks of a management hierarchy might have ambitions to become senior managers. However, their interests and concerns are different. Often, junior managers and other employees share common interests, such as:
• pay
• working conditions
• job security
• job satisfaction
• Quality of life.
Other stakes of employees include solvency of company. If the company becomes solvent, the biggest lost bearers are employees. Since company’s profit has been increased only by 3% during past 3 years which is extremely low growth there are chances that this growth is stifled and company goes back to loss. Consequently chances of RIC to get solvent are increasing day by day
Another stake of employees is profitability of RIC. Since management has decided to improve their operations and they are expecting a positive growth, the employees will definitely expect bonus payments for their extra efforts they have
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Staff is also forced to get trained. Generally those employees who are not fit for new system would get redundant. Similarly, some employees do not like changes in routine. New training routine would sound irritating for them.
Policy Holders
A very major stake of policy holder is their personal information being held with RIC. If this information is goes to wrong hands, their lives or other assets me be in danger.
Another stake of policy holders is that they get paid for loss of their assets that have been insured. E.g. car of a customer is insured. If it catches fire, the customer would definitely like RIP to pay him insurance for such loss.
Another stake of customers is lower prices. Customers are more prices sensitive. They want to get served at lower rates. Currently rates of RIC are very high; this is why they are losing customers.
Changing policy has direct influence on customers. Since RIC’s target is customer, they are offering more services at lower rates. Since customers are more price sensitive, they will feel attractions towards car and house insurance policies because most of the competitors are not offering such

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