Final Strategic Development

Competency: 10. Develop strategic fit and quantitative strategic planning matrix.Directions:Using the completed exercises and guideline, write a 10- 12-page paper on how to develop a strategic plan using Cigna Health Insurance as the main subject, but incorporate other resources as needed.The project paper should include:Cover pageAbstractIntroductionCorporate missionThe culture and the communityResults from the competitive analysisResults from broad analysisFinancial statement from the past 5 yearsMcKinsey 7 results or BCG analysis results *Can use the exercise, but a paragraph must be included to explain the resultsAnsoff or TOWs results in paragraph formStrategic fit within the organization and communitySummation of strategic planReference page with a minimum of 8 references all in APA format – no URLs accepted alone.**Attached is my outline and other papers that was written towards this topic that will be helpful getting this paper together** Please review**
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Cigna Health Insurance
Brittany Williams
National American University
Strategic Fit Outline
Thesis Statement: Cigna Health Insurance has been in the field over 30 years’ of experience in
offering universal health insurance. The company has over than 1 million physicians, hospitals,
clinics as well as specialists worldwide. Consequently, Cigna Health Insurance stands for the
global health service corporation which seeks to enhance people?s life; it as well promotes people?s
sense of security by providing tailored health insurance.
?
Organizational Information(Cigna Health Insurance)
?
Corporate Mission
?
Research and competitive analysis
?
Broad analysis
1. 5-forces
2. PEST
3. Benchmark
4. SWOT-Generic
5. EFE
?
Financial statement
1. McKinsey 7 or BCG
?
Generic Strategies
1. Ansoff
2. TOWs
?
Strategic Fit Results
Cigna Health Insurance
1. Organizational Information (Cigna Health Insurance)
Cigna Health Insurance has been in the field over 30 years of experience in offering
universal health insurance. The company has over than 1 million physicians, hospitals, clinics as
well as specialists worldwide. Consequently, Cigna Health Insurance stands for the global health
service corporation which seeks to enhance people?s life; it as well promotes people?s sense of
security by providing tailored health insurance. It entails a team which partners with its clients in
empathetic, personal as well as in a proactive manner by fostering factual partnerships which have
far-reaching effects on the general health of patients in the addition to the claims payment.
Moreover, the overall preview of organizational customs and culture, Cigna Health
Insurance is founded and is based on the guiding principles of development as success tools. Cigna
Health Insurance has come a long journey in terms of development and planning in which in by
1996, Cigna sold its personal insurance business to a company of life insurance as its new
approach, something which did not look like paralyzing and disruptive for the reason that the
company customs and values changed (Quinn, 2013). Such form of transaction became part and
parcel of the Cigna?s ongoing development and planning, with such value of change became part
of its culture. By then, development opened more doors to a captivating future, as membership of
the Operations team of Individual Insurance which continued to stay committed to transformation
as a compelling factor to the long-term success of the organization.
2. Corporate Mission
Everything Cigna do is driven by its corporate mission to assist improves wellbeing, health, and
sense of security among people. The firm assists customers to prevent sickness, stay well, get
access to health provision, recover from injury, go back to work and feed for their families. As a
corporation which prides for having an authentic partnership spirit, Cigna at many times seeks to
utilize partnership in making things clear for their clients, assist them for making better choices;
and furthermore, demonstrate a sense of proper care on the health outcomes (Cigna, 2018). More
significantly, Cigna Health Insurance has healthy values of the community that are embedded
within its organizational customs. The company, in particular, recognizes exercises responsibility,
diversity, and responsibility for the actions done, and has the emotional response to ecological
sustainability. The corporation believes in the values of making the individual connection by
respecting cultural diversity as well as acting in a reasonable way. Additionally, the firm gives
more concentration to integrity along with high standards of function as part and parcel of its
values to the community.
3. Research and competitive analysis
Cigna Health Insurance Competitive Analysis determines its strengths as well as its
weaknesses and it?s a critical part of the marketing plan. The marketing plan used by Cigna; for
instance, it engages in one-on-one marketing thereby it is likely to witness a sales agent at
doorsteps. At the market, Cigna is likely to identify its products basing on the dynamic agents?
nature. Furthermore, Cigna?s products displays and presentation are prepared in the means which
easily attract consumers (Team, 2018). It is essential for having clients to understand nature of
product before buying it. Therefore, performance and demonstrations of Cigna Health Insurance
product are provided to enhance consumer confidence.
4. Broad analysis
5-forces
Porter?s forces structure is tools for analyzing business competition (Enochson, 2018). These
forces draw from the industrial economics of organization to determine competitive intensity as
well as attractiveness. These forces are suppliers? bargaining power, customers? bargaining power,
the new entrants? threat, Cost leadership as well as differentiation. All these will assist Cigna
Health Insurance to do well on the market.
PEST
Cigna Health Insurance will use PEST analysis that is political, economic, and socio-cultural as
well as a technological framework of the company. PEST analysis is part of Cigna?s external
analysis at the time conducting a premeditated analysis and offers a general idea of diverse macroenvironmental factors to be considered (Muchmore & Aguilar, 2016). It is a deliberated tool for
accepting market decline or growth, business position, direction and potential for operations.
Benchmark
Cigna Health Insurance will do benchmarking is comparing its business performance metrics and
processes to industry best practices from other related companies. Cigna Health Insurance will use
benchmarking to support selection process, planning as well as the delivery of its expansion and
marketing strategies.
SWOT-Generic
A Cigna Health Insurance provides an offer on the dental plan that caters to every individual
regardless. It takes into account personal preferences and needs of its consumers: through this offer
the company has ascertained that it targets, attracts, and retains all the customers regardless of
demographic factors or geographical factors (Reuters, 2017).
5. Financial statement
BCG MATRIX ? McKinsey 7s
Strategy: Healthcare cover, medical services.
Ambulance and paramedics,
Cancer skin disease cover
Structure: medical cover cards accepted in public and private hospitals
Vaccination and immunization,
Enjoyment risk reduction
Style: services received, maternal factors,
Availability of care, past care experiences,
Functional quality
Staff: good health, high performance,
Services offered and received.
Systems: Services received, payment
Technical quality,
Shared values: referrals, perceived quality
Skills: knowledge, self-efficacy
Generic Strategies
Ansoff
The Ansoff Matrix at Cigna Health Insurance acts as a strategy tool, for its global business.
Businesses use Ansoff to effectively develop through varying insurance products. It enables the
company to have the lowest threat strategy by selling its current products to the markets as it well
known to its customers. Another strategic alternative in the Ansoff Matrix is developing new items
for the existing customers by a strategy of Product Development. The achievement of this policy
is dependent on the Cigna as being capable of effectively carry out research and imminent into the
customer as well as market requirements along with their own internal abilities and competencies
for powerful innovation (Quinn, 2013).
Another strategic option entails taking existing company products into a new market by using a
?Market Development? approach. This is as well deemed as the riskier than market dissemination
as it could be difficult to recognize complexities of the new market. The last strategy which Cigna
can use in the Ansoff is diversification. Diversification is new products developing for the new
markets (Stein, 2016). It is deemed as the riskiest approach of sense as the firm would be moving
into the unfamiliar market.
TOWs
A TOWS analysis entails the same basic procedure of listing weaknesses, strengths, opportunities
as well as threats the same way a SWOT analysis is done. However, with the analysis of TOWS,
opportunities and threats are examined first and then weaknesses along with strengths are
scrutinized last (Wesley, 2017).
6. Strategic Fit Results
Cigna Health Insurance strategic fit expresses its degree match its resources as well as
capabilities plus opportunities in external settings. An exceptional resources combination and
capabilities could ultimately be developed into a viable advantage that the company might profit
from. Strategic Fit of Cigna Health Insurance defines on how well resources plus capabilities
matched along with opportunities to its external surroundings (Team, 2018). Strategic Fit is a
major factor to determine benefits of the Cigna Health Insurance to achieve as well as sustains its
success. Furthermore, strategic alignment directs the firm in firmly the set goals oriented (Simister,
(2011).
Strategy Fit is at Cigna Health Insurance is more concerned with strategies in practice; as
such are mostly designed structure of the Cigna to offer support in performance by the procedure
as well as relationships (Cigna, 2018). Cigna?s strategy is its direction as well as its scope over
long-term achievement in changing surroundings by its design of competences and resources
aiming to fulfill expectations of stakeholder.
References
Cigna (2018). Cigna. Retrieved from https://www.cigna.com/about-us/company-profile/
Quinn, R. E. (2013). Building the bridge as you walk on it: A guide for leading change. San
Francisco, Calif: Jossey-Bass.
Reuters, (April 2017). Cigna reports 12 percent cut in opioid use among U.S. customers,
Retrieved from https://www.reuters.com/article/us-cigna-opioids/cigna-reports-12percent-cut-in-opioid-use-among-u-s-customers-idUSKBN1782LA
Muchmore, S., Aguilar A. (October 2016). Humana, Cigna hit by lower 2017 Medicare star
ratings, Retrieved from
Stein, L. (September 2016). Cigna employs TV doctors in new campaign to help
save real lives, Retrieved from, http://adage.com/article/cmo-strategy/cignatv-doctors-campaign-save-real-lives/305750/
Wesley, D.(November 2017) Cigna Health Insurance Review. Retrieved from
https://quote.com/health-insurance/cigna/
Enochson, H. (2018). Strategic Planning Process: The Four Outcomes of Strategic Planning. On Strategy.
Griffin, D. (2017). Four Generic Strategies That Strategic Business Units Use. Chron: Business Strategy
Examples.
Simister, P. (2011). Ansoff Growth Matrix – Four Ways to Grow a Business. Differentiate Your Business.
A team, M. T. (2018). The Ansoff Matrix: Understanding the Risks of Different Options. Mind Tools:
Essential Skills for an Excellent Career.
Running Head: ORGANIZATION CULTURE OF CIGNA
Organizational Culture of Cigna
Brittany Williams
National American University
1
ORGANIZATION CULTURE OF CIGNA
2
In terms of organization identity, Cigna Health Insurance stands out a global health service
company that seeks to improve people?s well-being, health and promote their sense of security by
offering tailored health insurance. It encompasses a team that partners with its customers in
personal, empathetic and proactive ways by fostering true partnerships that have far-reaching
effects on the overall health and wellbeing of patients besides just paying claims. As an
organization that prides itself with true spirit of partnership, Cigna seeks to use partnership to make
things simpler for their customers, help them make better choice, and above all show a sense of
care about outcomes (Cigna, 2018). More importantly, Cigna Health Insurance has robust
community values embedded in its organizational culture. Particularly, the company recognizes
diversity, exercises responsibility and accountability for its actions, and has sensibility to
environmental sustainability. The company believes in the values of making personal connection
by first respecting diversity and acting in responsible manner. Further, the companies gives more
attention to integrity and high standards of operation as part of its community values.
Additionally, in the overall picture of organizational culture, Cigna is founded on the
principles of planning and development as tools of success. Cigna has come a long way in terms
of planning and development, in which in late 1996 it sold its individual insurance operation to a
life insurance company as part of its new strategy, something that did not seem paralyzing and
disruptive because the company values change (Quinn, 2013). That transaction became part of the
company?s ongoing planning and development, with the value of change becoming part of the
organization?s culture. The development opened doors to a winning future, as members of the
ORGANIZATION CULTURE OF CIGNA
3
Individual Insurance Operations team continued to remain committed to change as a potent factor
to the organization?s long term success.
References
Cigna (2018). Cigna. Retrieved from https://www.cigna.com/about-us/company-profile/
Quinn, R. E. (2013). Building the bridge as you walk on it: A guide for leading change. San
Francisco, Calif: Jossey-Bass.
Running Head: Cost, Differentiation, Focus & Strategy
Cost, Differentiation, Focus & Strategy
Brittany Williams
National American University
1
Cost, Differentiation, Focus & Strategy
2
Organizational Development
The development of an organization is determined by the competence of its management
in providing the necessary leadership qualities. This involves the competence factor in terms of
applying the relevant operational and development factors which propel the changes from one
form to another. The workers always follow the directives given by their superiors. Therefore,
they have little to offer apart from the performance expertise. In this case, it is upon the top
managers to ensure that they are well equipped with the necessary strategies which can help in
the formation and development of a strong and working organization. There are four established
strategies which are cost leadership, differentiation, focus, and the marketing strategy.
Cost is an important factor of production. In this organization, the operations need to be
cost-effective. The possibility of competitors engaging in price cuts similar to those of the
company is high. Therefore, the management engages in introducing new internal measures
which are less conspicuous to the competitors (Griffin, 2017). This involves activities such as
improving or adding a particular quality to the product without interfering with the initial prices.
Another strategy is to minimize the cost of production through being effective and minimizing
losses of raw materials during production. This end result is an undercut competition which then
allows the firm to operate normally.
The second factor is the focus. Concentrating on a particular market niche is one strategy
that has kept this company running. The management identifies a given opening in the market,
determines its needs and then engages in supplying that need. In most occasions, the firm has
managed to take full control of a particular niche without falling to the competitors. Such efforts
Cost, Differentiation, Focus & Strategy
have helped it to be more productive and be recognized (Simister, 2011). Focus leads to higher
profit margins compared to the low margins realized by those who do not apply this strategy.
This brings the difference between the trade-offs.
Thirdly, we have the differentiation factor as a contributory point to the development of
an organization. The Ansoff matrix identifies the contribution of differentiation as a mandatory
factor. The organization uses this strategy in order to position its products at a superior position
from those offered by the competitors (Enochson, 2018). Differentiation enables the firm to
come up with superior products which gain a better competitive ground from those of a similar
orientation though at a different price. The consumer then considers the quality of the product
and values it to be worth the price, thereby preferring it in place of the initial ones.
Finally, there is the marketing strategy used by the organization. For instance, our
company engages in one-on-one marketing whereby it is possible to see an agent right at the
doorsteps. In the market, it is possible to identify our products based on the vigorous nature of
the agents. Additionally, the products? display and presentation are done in a way that it easily
attracts the consumers (Team, 2018). It is necessary to have the customer understand the nature
of the product before purchasing it. Therefore, demonstrations and performance of the product
are provided to boost the consumer confidence.
In conclusion, the process of organizational development should be done in a more
professional way to prevent later issues. The Ansoff matrix offers the best way to performing
various operations which contribute towards the development of any form of an organization.
The best way is to use the information in a professional way and ensure that every part of the
matrix is accorded the necessary attention.
3
Cost, Differentiation, Focus & Strategy
4
References
Enochson, H. (2018). Strategic Planning Process: The Four Outcomes of Strategic Planning. On
Strategy.
Griffin, D. (2017). Four Generic Strategies That Strategic Business Units Use. Chron: Business
Strategy Examples.
Simister, P. (2011). Ansoff Growth Matrix – Four Ways to Grow a Business. Differentiate Your
Business.
Team, M. T. (2018). The Ansoff Matrix: Understanding the Risks of Different Options. Mind
Tools: Essential Skills for an Excellent Career.
Running head: LIFE CYCLES IN HEALTHCARE
Life Cycles in Healthcare
Brittany Williams
National American University
1
LIFE CYCLES IN HEALTHCARE
2
Life Cycles in Healthcare
Introduction
Comprehensive analysis of health care life cycles entails analysis of the company
products, the industry they are immersed in conducting business opportunities and the current
economic level. There are five major phases of product line. The introduction/birth phase is
where new product is being introduced in the market (Miller & Friesen, 1984). This stage
requires numerous resources. Growth phase is where the product of the company or
organizations sells at faster rate. Maturity phase is where the product has reached its peak as
members of the public are very aware of the product line. Revival healthcare phase is associated
with numerous changes being introduced in the product line (Dodge et al. 1994). Decline phase
is saturation point of the company. Despite the fact of price increases, the number of sales
decline. This essay is an analysis of life cycles of Cigna Health Spring Insurance (Miller &
Friesen, 1984).
Birth
Cigna Health Spring Insurance is a global health care insurance company that offers a
range of products such as Medicaid and Medicare, more active live health care products through
personalized and affordable solutions. The birth phase of Cigna Health Spring Insurance was
characterized by immense use of financial and material resources in the process of improving
people?s lives and enhancing a sense of well-being. During this birth/introduction phase, Cigna
Health Spring Insurance dedicated a lot of resources in aim for better health results, affordability,
and customer satisfaction. This stage serves as a concrete foundation for Cigna Health Spring
LIFE CYCLES IN HEALTHCARE
3
Insurance to launch many more health care subsidiaries; a scenario that has been justified by
scholars such as Miller & Friesen, 1984.
Growth
Cigna Health Spring Insurance has realized the growth phase in many ways. For
example, it has created a user-friendly website where information relating to heath care is easily
accessible. Cigna Health Spring Insurance offers a variety of healthcare services such as personal
attention to customer needs, pr …
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