StoneLaurel conducts S.W.O.T. analysis for major insurance company to strengthen initiatives and provide a clear direction for project management.
In 2012, one of the nation’s largest insurance corporations decided to roll out new initiatives on client computing, messaging, and collaboration in its corporate offices. Leadership felt those plans could be better organized and executed – and possibly consolidated into one program – and enlisted StoneLaurel to conduct a Strengths, Weaknesses, Opportunities and Threats (S.W.O.T.) analysis on the projects. Company leadership hoped such an analysis would direct them to implement the projects more efficiently and cost-effectively and also improve communications strategy.
To offer immediate relief, a team of expert consultants reviewed several initiatives and offered feedback. Then they developed a S.W.O.T. questionnaire and conducted interviews with key client associates, stakeholders, and management teams who were involved with the various projects. With a combination of their industry knowledge and the interview data, consultants developed a plan of action for project management that would consolidate all of the initiatives into a cohesive strategy. They also revamped the company’s communications and marketing plan by recommending enhancements to its website, newsletters and mobile app.
StoneLaurel’s overarching plan delivered this Fortune 100 company a clear guide to successfully implement its new initiatives, offering leadership a defined scope and distinct objectives. Combining the initiatives into one project saves the business money, and with the identification of a primary stakeholder, all other parties understand how to work together and bring their shared vision to fruition.
StoneLaurel’s plan also created an Executive Steering Committee and Overall Program Manager to streamline progress, and leaders were re-energized about their roles in moving the plans – and the company – forward. Team members reduce wasted time with documented accountabilities for themselves, and also enjoy more efficiency with consistent processes for operations, including tracking, monitoring, and dependency management. Finally, the revised communications and marketing efforts have improved the company’s market reach, reaffirming its dominance in the insurance industry