Executive Summery The Insurance Corporation of British Columbia (ICBC) is a provincial Crown corporation that provides universal compulsory auto insurance (Basic insurance) to drivers in British Columbia (BC), with rates regulated by the British Columbia Utilities Commission (BCUC). ICBC also sells vehicles and Optional auto insurance in a competitive marketplace. ICBC was established as a provincial Crown corporation in 1973 and, at that time, was the sole provider of auto insurance in BC. Soon afterwards, legislation was amended to allow other insurance companies to sell Optional auto insurance and our vehicles. Today, ICBC are the sole provider of Basic auto insurance, the rates for which are regulated by the BCUC, and we sell Optional …show more content…
The status of ICBC is concentrating on the performance. The market forces and the production trends in the industry are addressed, focusing primarily on the geography of automotive services. And the competitiveness and product strategy, particularly in the areas of automotive manufacturing and product development. These several areas where improvement and innovations are needed to make next generation of vehicles possible. The dynamic of the adoption and evaluation of lean production practice are discussed. Strategic SWOT Analysis Our ICBC’s Strategic SWOT Analysis provides a comprehensive insight into the corporations history, corporate strategy, business structure and operations. This contains a detailed SWOT analysis, information on the corporation of key employees, key competitors and major services and products. This up-to-the-minute, our corporation will help you to formulate strategies to drive your business by enabling you to understand your partners, customers and competitors better. Scope 1. Business description - A detailed description of the ICBC operations and business divisions. 2. Corporate strategy - Our summarization of the ICBC business …show more content…
Key employees - A list of the key executives of the company. 8. Executive biographies - A brief summary of the executives’ employment history. 9. Key operational heads - A list of personnel heading key departments. PEST analysis A PEST analysis is used to identify the external forces affecting of an our organization and come up its Macro Environment. This is a simple analysis that we had done at our organization’s Political, Economic, Social and Technological environment. Political The first element of a PEST analysis to study of political factors of our community. Political factors can create advantages and opportunities for organizations. Conversely it can place obligations and duties of our organizations. Here is some of the Political factors . 1. Legislation such as the minimum wage or anti-discrimination laws. 2. Voluntary codes and practices 3. Market regulations 4. Trade agreements, tariffs or restrictions 5. Tax levies and tax breaks 6. Type of government regime