The Abu Dhabi National Insurance Company Business Essay
The corporate strategy of Abu Dhabi National Insurance Company is based on some of the core values. These values include reliability of customers on its products and services, delivering new and unique products by doing innovation, achieving high customer satisfaction by teamwork, employees loyalty with the organization and fairness and equality for all. The company operates on the basis of these core values while interacting with its customers, the employees and the stakeholders. (Financial Report, 2011)
The business strategy shows a detailed plan and activities to be performed to achieve long-term goals. The business strategy of Abu Dhabi National Insurance Company is to make high revenues by making long-term relations with its customers and by delivering best services. Its business strategy is based on new product development that can be done by using new technology and innovation. Abu Dhabi National Insurance Company believes that to achieve its targets, the company has to achieve a high customer satisfaction level. (Abu Dhabi National Insurance Company, 2013)
Functional Level Strategy
The functional level strategy is critical for the success of any company. It formulates a plan to achieve all its goals. The functional level strategy of Abu Dhabi National Insurance Company is to make all the departments work as a unit to achieve organizational goals. Abu Dhabi National Insurance Company believe that new product development and customer satisfaction can only be achieved if all the departments work together as a team. The strategy also focuses on the utilization of all the available resources to achieve goals and get high revenues.
Internal Assessment Methods
In performance appraisal the organization reviews the performance of employees on the assigned duties. Employees are appraised on their performance. Abu Dhabi National Insurance Company uses a number of performance appraisal methods. Employees have to fill a form and this process is called self-appraisal. The employees tell what they feel about their job and how satisfied they are with their job. Another employee appraisal method used by Abu Dhabi National Insurance Company is the graphic rating scale method in which the supervisor checks off the performance level of the employee. The supervisor who works with the employee has better idea about the performance of the employee. Abu Dhabi National Insurance Company has a policy to reward employees on the basis of their performance. Employees with good performance are rewarded with bonuses and other benefits. ( Career Opportunities)
After employee appraisal, those employees with bad performance go through training programs. These employees are given essential training to overcome their weaknesses. The employees are encouraged to express views about their job and the difficulties they face while performing their tasks. Results show that training after appraisal has improved employee performance in Abu Dhabi National Insurance Company. The company also provide training to its new employees. The employees who are new to the company go through a training process that introduces them to the company, the values of the company and give information about the products and services that are delivered to the customers of Abu Dhabi National Insurance Company. Employees also go through an on-job training process where they have to perform a number of tasks related to their job.
External Assessment Methods
Abu Dhabi National Insurance Company offers excellent job opportunities with attractive salaries. The company believes that its employees are the main assets therefore it focuses on hiring highly skilled professionals who possess all the abilities to perform well. It offers jobs to all nationals and genders. The company prefers individuals who have vast experience in the insurance industry. Before applying to a job, the applicant has to meet all the requirements that make him eligible to apply for the job. These requirements include strong educational background, a considerable experience in the industry.
The applicants have to go through a written test and those applicants who pass the written test advance to the next step. It is necessary that applicants should have some knowledge about the company and the job they are applying for. For this they go through a job knowledge test in which the questions are designed to assess the professional and technical expertise. Abu Dhabi National Insurance Company management uses this method to find out what the applicant knows about the company and the job he is applying for. The final stage in the recruitment process is the applicant’s interview. The candidates who pass both the written and job knowledge tests and meet the eligibility criteria are invited for a number of interviews. The applicants go through a series of interviews before the final selection. The panel who conducts interviews assesses the applicant on the basis of knowledge and skills.
How internal and external assessment method help the company to achieve its strategy.
Internal and external assessment methods help the company in achieving its goals and strategies. For a company to perform successfully it is necessary to have skilled employees and who are loyal with their employer. If the employee is skilled and loyal to his company then he will put all his effort and expertise to help company achieve its long-term goals. With internal and external assessment the company can raise the performance standard of its employees. The employees satisfaction can also be increased which result in high job involvement. Abu Dhabi National Insurance Company believes its employees as its best asset who are the backbone of the company. The company believes that to achieve its goals it has to identify highly skilled applicants and give them necessary training. With internal assessment the company identifies those employees who are weak and unsatisfied with their jobs. The company tries to fix their problems and make them productive. With external assessment, company tries to find out competent individuals with necessary skills. When internal and external assessment is achieved Abu Dhabi National Insurance Company believes that it has the best work force in order to achieve its goals and strategies.