Baoviet - Business Environment

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Prepared for : Mr.  Jubred Ada Peñano
Business Environment
Assignment title: Organizations in their environment
International Training Program, Banking Academy

Prepared by:
Nguyen Quang Anh – Tom – Class F04B
Registration No: ITP F04-009
Submission Date: 2nd December 2011

Table of contents
Title Page………………………………………………………………………………………….1 Table of contents…………………………………………………………………………………..2 Introduction……………………………………………………………………………………….3 1a Identify the mission, values and key objectives of Bao Viet and assess the influence of stakeholders……………………………………………………………………………………4 1b. Evaluate the extent to which Bao Viet achieves the objectives of three stakeholders………11 1c. Explain the responsibilities of Bao Viet and strategies employed to meet them…………….14 2a. Explain how economic systems attempt to allocate and make effective use of resources…..16 2b Discuss the impact of social welfare and industrial policy initiatives on Bao Viet and the wider community………………………………………………………………………………...23 2c Evaluate the impact of macroeconomic policy and measures and the influence of the global economy on UK-based Bao Viet and stakeholders……………………………………………..25 Conclusion……………………………………………………………………………………...31 Reference……………………………………………………………………………………….32

Introduction

Business environment is very important to every company. Business environment includes all factors that affect a company’s operation, from inside company to outside company. Therefore, to get more success, each company has to understand deeply about the business environment around it, basing on it to make a good developing plan. In this assignment, the author will discuss about the business environment around Bao Viet Insurance. Bao Viet insurance was established in 1965. It is the biggest insurance company in Vietnam. It is also a subsidiary of Bao Viet Finance Group in Vietnam. In 2008, BaoViet was accredited as one of the biggest 25 enterprises in Vietnam as well as a long-standing, trustworthy insurer to all organizations and all people in Vietnam.

1a. Identify mission, values and key objectives of Bao Viet and assess the influence of stakeholders
In order to get more achieve achievements, every organization and firm usually have their own great vision, a consistent mission and followed by some specific goals and objectives. Bao Viet Insurance Company is not an exception. Board of director has proposed their own mission statement, values and objective to make Bao Viet became the number one in insurance market of Vietnam.

1a.1 Mission:
Mission is an important factor in planning process of an organization. It is actions and behaviors for the present and nearly future. Good mission statements have to meet three requirements: “brevity, flexibility and distinctiveness” (BPP Professional education, 2004, p 27). A right mission will lead the organization to get more success, but if it is not correct or not suitable, the organization will be turned down. Therefore, identifying mission correctly is one of the most critical works of the executive board in an organization. Bao Viet Insurance company‘s board has been aware of that important role of mission, so they made a good mission for the development of their company:” To ensure the safety, prosperity and long term benefits for our customers, investors, employees, and communities” (www.Baoviet,com.vn) . It is not only the mission of Bao Viet insurance company but also is Bao Viet Group‘s. This is a great mission of Bao Viet’s Executive Board. By the power of financial and experience, ensuring the safety, prosperity and long term benefits for everyone is a possible task for Bao Viet. If they can do it well, they will have more clients, more profits and as a result, Bao Viet Insurance Company will develop rapidly and stably. By a small research, people can see some other missions of Bao Viet Insurance‘s competitors in Vietnam, such as Prudential’s mission:”To help our customers achieve...
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