Operational

Financial

Process

Behavioral

Multidivisional structure

Functional structure

Flat organizational structure

Operational structure

Process controls

Management controls

Financial controls

Operational controls

Functional structure

Profit-center structure

Divisional structure

Centralized structure

Designing an effective organizational structure.

Establishing standards for measuring results.

Analyzing the external and internal environments.

Implementing management control processes.

Conglomerate structure

Multidivisional structure

Functional structure

Diversified structure

Customers are generally not considered in a SWOT analysis because the focus is on the assets an organization owns.

Managers use SWOT analysis to predict the future state of their companies.

Identifying internal strengths and weaknesses involves considering financial physical human and organizational assets.

SWOT analysis considers a company's internal environment rather than the external environment.

The threat of substitute products or services does not exist in the insurance industry.

Insurance consumers have greater bargaining power in a soft market.

Government policy cannot act as a barrier to entry into the insurance industry.

When buyers have significant power it tends to decrease competition within the insurance industry.

Rivalry among existing firms

Bargaining power of buyers

Threat of substitute products or services

Bargaining power of suppliers

Monitoring corporate goals.

Benchmarking strengths of management team against competition.

Analyzing the competitive environment.

Measuring the company's financial physical and human assets.

Managers consider factors in the general environment rather than the task environment when conducting a SWOT analysis.

Identifying internal strengths and weaknesses involves considering financial physical human and organizational assets.

Customers are generally not considered in a SWOT analysis because the focus is on the assets an organization owns.

Managers use SWOT analysis to predict the future state of their companies.

Insurers can raise barriers to entry by offering unique or customized products or services.

Buyers in the insurance industry generally have very limited bargaining power particularly in personal lines.

The threat of substitute products or services refers mainly to substitutes offered by an insurer's direct competitors.

The insurance industry is not exposed to the threat of suppliers exerting bargaining power.

Seek efficiency in all areas of operation to build a competitive advantage.

Accurately determine customers' preferences to develop products perceived as distinctive.

Focus on one group of customers and offer a low-price product or service.

Produce short-term profits while phasing out a product line or existing market.

Harvest strategy

Liquidation strategy

Turnaround strategy

Divestiture strategy

A differentiation strategy

A divestiture strategy

A cost leadership strategy

A harvest strategy