Key Success Factor in Strategy Implementation: A Case Study of LocalTapiola Etelä Insurance Company

Last modified: December 4, 2019
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Project Title: Key Success Factor in Strategy Implementation: A Case Study of LocalTapiola Etelä Insurance Company
Author: Ms. Maija Lahtikari
Advisor: Assoc. Prof. Dr.Om Huvanand
Degree: Master in Business Administration (International Program)
Major: Human resources
Faculty: Graduate Schools
Academic year: 2018

Citation

Lahtikari, Maija. (2018). Key Success Factor in Strategy Implementation: A Case Study of LocalTapiola Etelä Insurance Company. (Independent study, Master of Business Administration). Bangkok: Siam University.


Abstract

The purpose of this thesis is to help LocalTapiola Etelä to find out how their employees have adopted LocalTapiola’s current strategy from employees’ point of view and to help LocalTapiola Etelä to plan what can be done to support employees going towards LocalTapiola’s objectives and goals. LocalTapiola’s new strategy period starts in next year so they can make improvements based on this study.

The research was done by comparing both literature and journals and internet sources to the results of questionnaire. Research method was quantitative research. A questionnaire was sent via email to Localtapiola’s employees. A quantitative method was selected because of the need to attain responses from all LocalTapiola’s employees.

Because of the growing competition in the insurance industry in Finland, Finnish insurance companies needs to take actions. Global companies that provide insurances only online have arrived to Finland and are changing the insurance industry in coming years. In addition, customers are buying more and more in online and demands fast and easy service. Three biggest insurance companies have the biggest market shares. Those three companies have been in same position for years. In future this might change. (Insurance year, 2017).

This study consists of six parts: Introduction, Theory and literary reviews, Research Planning, Designing a Survey Questionnaire, Data Analysis and Conclusion.

Topic that we discuss about is how LocalTapiola have succeeded by bringing the new strategy to employees and in their daily work and what they can do next to ensure that the new strategy is well implemented. Because LocalTapiola’s new strategy made changes to whole company and employees work change management is also in big role of this implementation process.

Results of research were positive. In general, in LocalTapiola Etelä strategy was seen in positive light and as succeeded. Also, supervisor was seen as a furtherer for cultural change. Also, employees saw their own role in positive light in that area. Strategy communications got lowest points in survey but it can also be seen as a succeeded thing because employees have adopted the strategy well. Of course, in communications part there can be improvements made in coming strategy period.

 

Keywords:  Strategy, Strategy implementation, Leadership, Motivation, Human Resources.


Key Success Factor in Strategy Implementation: A Case Study of LocalTapiola Etelä Insurance Company

International Master in Business Administration (IMBA), Siam University, Bangkok, Thailand

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