Research On Strategy Of Picc Property And Casualty Limited Heilongjiang Branch

PICC Property and Casualty Company Limited (hereafter PICC P&C)Heilongjiang branch, as a stated-owned insurance company, is renowned for itslongest business history, biggest market share and largest number of employeesin the property insurance market in Heilongjiang province. It also has long-helddistinct advantages in its brand, talents, products, network coverage andtechnology in Heilongjiang property insurance market. However, with constantemerging rival companies and its inherent dated management system, PICC P&CHeilongjiang branch finds itself in gradual inadaptation to the fickle rhythm andaggravated competition in the business market, which result in the company’sdecreasing market share, gloomy profitability and increasing talent loss year byyear. Heilongjiang branch has thus witnessed its once-dominant position in theregional market severely challenged and threatened. Being confronted withever-increasing competition and competitors in various forms, it is critical andhigh time that we came up with developmental strategies and planning that couldfit in with the industry and the company’s own realities, achieve strategictransformation and upgrade as a state-owned enterprise, and move the companyforward for steady development of business scale and growth of profits.Applying related theories of strategic management, the present thesis hasconducted thorough analyses of PICC P&C Heilongjiang branch andHeilongjiang property insurance market as a whole, and put forward a workableframework of development goals and implementing strategies for the company,which will help to face up the challenges, increase market share, promoteprofitability and expand its leading edge in regional market. The thesis sets outto clarify the strategic development objectives for PICC P&C Heilongjiangbranch by analyzing its external environmental and internal managerialparameters. SWOT analysis has been adopted to work out key measures andfeasible suggestions suitable for the company’s mid-and long term development.A framework composed of cost leadership strategy and differentiation strategyhas been proposed; crucial measures of speeding up the key areas of businessdevelopment, reforming human resource management system, consolidating effective approach to linkage with market, developing service qualitymanagement system and exploring new models suitable for the development ofthe company have also been clarified; and basic guarantee of the implementationof these strategies has finally been suggested.