Usaa Company Analysis
HR Practices of United Services Automobile Association
Company Information & Business Strategy
The United Services Automobile Association (USAA) is a Fortune 100 company as of the year 2009 that primarily sells life and property insurance to its 7.7 million members, which consists of active and retired military personnel and their family members (www.biz.yahoo.com). They also offer such services as banking and investment management, focused on helping military persons to manage their money wisely and offer them services at reasonable costs with low interest rates. As of 2009, the company employees 21,500 people and competes in the industry of property and casualty insurance against other companies such as MetLife, State Farm, and Government Employees Insurance Company (www.biz.yahoo.com). USAA is headquartered out of San Antonio, Texas, where twenty-five Army officers founded the company in 1922 and set out to insure each other’s cars while standing firm in the values of honesty, integrity, loyalty and great service (USAA.com). “USAA 's mission is to facilitate the financial security of its members, associates, and their families through provision of a full range of highly competitive financial products and services; in so doing, USAA seeks to be the provider of choice for the military community,” (usaa.com). This mission statement from USAA’s website shows that the company has established its target market, segmenting it into the realm of military personnel and their families. Their main business strategy in attracting customers and beating out the competition for those customers is not only offering a wide array of financial and insurance services, but also by doing so at reasonable costs, rates, and carrying operations out with superior customer service. As a USAA customer having dealt with their top competitors also, I know firsthand that they initially attract customers by internet and television advertising mostly, and achieve customer loyalty
Company Information & Business Strategy
The United Services Automobile Association (USAA) is a Fortune 100 company as of the year 2009 that primarily sells life and property insurance to its 7.7 million members, which consists of active and retired military personnel and their family members (www.biz.yahoo.com). They also offer such services as banking and investment management, focused on helping military persons to manage their money wisely and offer them services at reasonable costs with low interest rates. As of 2009, the company employees 21,500 people and competes in the industry of property and casualty insurance against other companies such as MetLife, State Farm, and Government Employees Insurance Company (www.biz.yahoo.com). USAA is headquartered out of San Antonio, Texas, where twenty-five Army officers founded the company in 1922 and set out to insure each other’s cars while standing firm in the values of honesty, integrity, loyalty and great service (USAA.com). “USAA 's mission is to facilitate the financial security of its members, associates, and their families through provision of a full range of highly competitive financial products and services; in so doing, USAA seeks to be the provider of choice for the military community,” (usaa.com). This mission statement from USAA’s website shows that the company has established its target market, segmenting it into the realm of military personnel and their families. Their main business strategy in attracting customers and beating out the competition for those customers is not only offering a wide array of financial and insurance services, but also by doing so at reasonable costs, rates, and carrying operations out with superior customer service. As a USAA customer having dealt with their top competitors also, I know firsthand that they initially attract customers by internet and television advertising mostly, and achieve customer loyalty
References: Raymond A. Noe, J.R. (2009). Fundamentals of Human Resource Management. New York: McGraw-Hill Companies. United Services Automobile Association. (2010). About USAA. Retrieved November 12, 2010, from United Services Automobile Association: https://www.usaa.com/inet/ent_utils/McStaticPages?key=about_usaa_main&wa_ref=pub_subglobal_footer_about_usaa_page Yahoo! Finance. (2010). USAA Company Profile- Yahoo! Finance. Retrieved November 12, 2010, from Industry Center-Property and Casualty Insurance: http://biz.yahoo.com/ic/40/40508.html