Baoviet – Business Environment Assignment

Baoviet – Business Environment Assignment Words: 826

Therefore, to get more success, each many 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 ABA Viet Insurance. ABA Viet insurance was established in 1965. It is the biggest insurance company in Vietnam. It is also a subsidiary of ABA Viet Finance Group in Vietnam. In 2008, Batavia 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. A. Identify mission, values and key objectives of ABA 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. ABA Viet Insurance Company is not an exception. Board of director has proposed their own mission statement, values and objective to make ABA Viet became the number one in insurance market of Vietnam. La. 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 extensiveness” (BP 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.

ABA 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. Batavia,com. Van) . It is not only the mission of ABA Viet insurance company but also is ABA Viet Group’s. This is a great mission Of ABA Vet’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 ABA Viet.

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If they can do it well, they will have more clients, more profits and as a result, ABA Viet Insurance Company will develop rapidly and stably. By a small research, people can see some other missions of ABA Viet Insurance’s competitors in Vietnam, such as Prudential’s mission:’To help our customers chive financial prosperity and peace of mind” (BMW. Coralline. Com. Van) and Korea Life Insurance’s mission: “With Trust, Respect and Innovation, Korea Life will provide the best financial services that will enrich the lives of our customers”.

It can be clearly seen that ABA Vet’s competitors only focus on the benefits of customer while ABA Viet do it differently. They not only care for customer – the most important factor in business but also make sure the benefits Of other stakeholders, like investors, employees and especially communities. They want to ensure benefits of everyone. Therefore, this session is more social than others and it will attract more attention of communities. ABA Vet’s mission shows that this firm want to become a big and good company of Vietnamese society. 1 a. Values: Values of ABA Viet Insurance Company reflect the operations; code of behavior, the management of people and the dealings with other organizations. ABA Viet Insurance Company has 5 key values: -QUALITY : “achieve highest standard and quality services” Quality is not only ABA Vet’s value but also is the value of all companies in the world. It is the fact that no customer wants to trade, buy or exchange with a company hose quality is poor. Therefore, quality is always the most important value that ABA Viet will try to satisfy customer. -ACCESSIBILITY: ‘Welcoming, friendly and professional, sensitive to colleagues and customers”.

This value is very important to ABA Viet. Welcoming, friendly , professional and sensitive are very necessary for good employees they are modern standards that will help ABA Vet’s staff to work flexibly and efficiently. – COOPERATE: “Spirit -? Work cohesively with colleagues across the group; build strong relationships with customers and partners based on mutual understanding” No one can deny that in modern life, cooperation will help people to do many works or achieve more goals. Therefore, “Cooperation” has been chosen as an important value of ABA Viet.

In ABA Viet Company, team-work skill and building relationships skill is very important and necessary for every employee. -DYNAMICS: “Forward looking progressive; embrace change and create news benchmarks; ready to adopt new ideas and innovation” Taking advantages of opportunity and adopting new ideas will help ABA Viet Insurance Company to develop rapidly and get more achievements. – RESPONSIBILITY: “Transparent and honest; responsible for society and immunities; benchmark of corporate govern” A good company is a firm that not only makes many profits but also responsible for society.

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Baoviet - Business Environment Assignment. (2022, Jan 13). Retrieved February 23, 2024, from