About the International Management Problems with the Hih Company
Contents
Introduction 2 Factor 1 HIH general situation 3 Factor 2 Company issues 4 Strategy making and execution 4 Large-scale expansion 5 Acquiring FAI 7 The company management structure 7 Factor 3 Company operation 9 Reinsurance 9 Auditor 10 Finance 11 Risk management 11 Factor 4 Strategic opinions 12 Professional and concentrated expansion strategy 12 Others opinions 14
Conclusion 15
References 18
Introduction HIH is a famous multinational insurance company in Australia, who has a huge network of company structure, complex management approach and managers. At first for this an international cross-border insurance company, after researching and analysis the whole company background, academic information, can get the collapsed reasons of the HIH insurance company that is about corporate structure, company managers, corporate decision-making, investment, financial and other external causes. The HIH has more problems rather than a single mistake. In the company operating activities, enterprises and their regulatory authorities make a series of activities and measures which breach the ethics, to help them to cover the company operating loss until the HIH finally collapse. These unfair competition activities also get serious harm with social, the company and people. Secondly, as the collapse of HIH insurance company, we should ponder the reasons that lead to the bankruptcy, and the problems that they had made corporate decision-making, the management style and business concept. Finally I boldly envisioned a specialized and centralized strategic decision-making, strategic expansion, and a reasonable structure of the company can make the HIH extricate the management troubles instead of going bankrupt. In my essay which mainly focus on the strategic decision-making and strategic management theory. Strategic management mainly refers to a
Introduction 2 Factor 1 HIH general situation 3 Factor 2 Company issues 4 Strategy making and execution 4 Large-scale expansion 5 Acquiring FAI 7 The company management structure 7 Factor 3 Company operation 9 Reinsurance 9 Auditor 10 Finance 11 Risk management 11 Factor 4 Strategic opinions 12 Professional and concentrated expansion strategy 12 Others opinions 14
Conclusion 15
References 18
Introduction HIH is a famous multinational insurance company in Australia, who has a huge network of company structure, complex management approach and managers. At first for this an international cross-border insurance company, after researching and analysis the whole company background, academic information, can get the collapsed reasons of the HIH insurance company that is about corporate structure, company managers, corporate decision-making, investment, financial and other external causes. The HIH has more problems rather than a single mistake. In the company operating activities, enterprises and their regulatory authorities make a series of activities and measures which breach the ethics, to help them to cover the company operating loss until the HIH finally collapse. These unfair competition activities also get serious harm with social, the company and people. Secondly, as the collapse of HIH insurance company, we should ponder the reasons that lead to the bankruptcy, and the problems that they had made corporate decision-making, the management style and business concept. Finally I boldly envisioned a specialized and centralized strategic decision-making, strategic expansion, and a reasonable structure of the company can make the HIH extricate the management troubles instead of going bankrupt. In my essay which mainly focus on the strategic decision-making and strategic management theory. Strategic management mainly refers to a
References: Becky Gaylord. (2002.). For Months, Australia Has Had an Enron of Its Own. Retrieved.from.http://query.nytimes.com/gst/fullpage.html?res=9B01EFDA123EF931A15751C0A9649C8B63&&scp=8&sq=HIH&st=cse Ge, Y. H, Xie, Z. J, Wang, T. (2003.) The case of Australia HIH insurance bankrupt. Jing Suan Tong Xun. 4(3). Han, K. S & Wu, J. (2005). The reasons of HIH bankrupt and the lessons. The theory and application of research papers, The people by the China Property Insurance Company (PICC), Beijing, China. Gamble, J. E & Thompson, A. A. (2009) Essentials of Strategic Management (2ed.ed.). Australia: Charles Sturt University. Kehl, D (2001.). HIH Insurance Group Collapse. Parliamentary Library. Retrieved from. http://www.aph.gov.au/library/intguide/econ/hih_insurance.htm Nag, R. H, Chen, D. C, What is strategic management, really? Inductive derivation of a consensus definition of the field. Strategic Management Journal. Volume 28, Issue 9, pages 935–955, September 2007. Peng, M. W. (2008). Global Strategic Management. America. South-Western, Division of Thomson Learning.