MCKensy
MCKensy
MCKensy
STRUCTURE:
BOARD OF DIRECTORS:
Mr. Rahul Bajaj (Chairman)
Dr. Werner Zedelius
Mr. Sanjay Asher
Mr. Niraj Bajaj
Mr. Sanjiv Bajaj
Mr. Heinz Dollberg
Mr. Ranjit Gupta
Mr. S. H. Khan
Mr. Suraj Mehta
Mr. Dietmar Raich
Mr. Manu Tandon
Mr. Kamesh Goyal (Alternate Director to Dr. Werner Zedelius)
SUB STRUCTURE:
Branch Manager
Organization Chart
1. Formal reporting relationships - High
2. Levels in hierarchy - High
3. spans of control - High
4. Departmentalization- High
System:
Formal and informal procedures that support the strategy and structure
Branch Manager
Usually reporting from junior level management to higher level management is common
practice in BAJAJ ALLIANZ.
3. PLANNING, APPROVAL:
Planning and approval usually done by higher authority . Based on situation people at lower
management are too allowed to take decisions
SKILL:
Distinctive competencies – what the company does best, ways of developing or shifting
competencies
• In case of BAJAJ ALLINANZ while Job Design it is to be considered whether the existing
employees have the necessary skills and knowledge tofu fill proposed / expanded job
requirements.
SKILLS REQURED IN BAJAJ ALLIANZ:
Management skills, technical skills, communication, personality .
STAFF:
Human Resource Development at BAJAJ ALLINZ has been an integral part of the Company
since its inception. It has had a significant strategic role in the
Company's growth process and continues to do so. It is a function that has contributed to the
bottom line of the Company and has built the BAJAJ ALLIANZ family.
BAJAJ ALIANZ today boasts of a strong online competency profiling system for its
employees. u It is to be kept in mind that the people are ways of shaping their basic
management values Proper HR management processes should be used to develop new
managers who can lead the
Organisation’s Importance should be given to the ways of introducing new employees and
managing careers.
STYLE:
The culture of the organization, consisting of Organizational culture: the dominant values,
beliefs and norms which develop over time and become
Relatively enduring features of organization life .
Management style: The precise way in which the Control system influences the behaviour
depends on the style of functioning of the manager (i.e. where they spend their time and
attention, what they allow, what
They reward, etc)
BAJAJ ALLIANZ basically follows an External Control System where
Decision making authority rests with the top management –
Centralized in practical operations three basic rules or style
1. Respect for Individual
2. Customer Satisfaction
3. Dedication to Excellence
STARTEGY:
Success of a company depends on way of designing and implementing stategy.
Strategy used in BAJAJ ALLIANZ.
3. Alliance &Tie up: The importance of alliances and tie-ups means that companies
will have to integrate related but separate providers into their systems to ensure
seamless delivery.
5. Market Segmentation: They must segment the market carefully to arrive at the
appropriate products and pricing and should cater the needs of every individual.
EXAMPLE: products like investment plus purely designed for elder person.
6. Revamped Marketing Strategy: Worldwide, insurance products move along a
continuum from pure service products to pure commodity products then they could be
sold through the medical shops, groceries, novelty stores etc. Once communication,
popularity and awareness of the products are attained then the products can move to
remote channels such as the telephone or direct mail.
SWOT ANALYSIS:
1. Competitor like LIC and UTI LIFE INSURANCE has edge over Bajaj Allianz