Acknowledgement:(1)Library Management of Shanto-Mariam University of Creative Technology(2)MD. AKRAM HOSSAIN,DMD, AccountsDELTA LIFE INSURANCE Co. Ltd.
OBJECTIVE:A SWOT analysis must first start with defining a desired end state or objective. A SWOT analysis may be incorporated into the strategic planning model. An example of a strategic planning technique that incorporates an objective-driven SWOT analysis is Strategic Creative Analysis (SCAN). Strategic Planning, including SWOT and SCAN analysis, has been the subject of much research.
I was curious about the SWOT analysis of Delta Life Insurance Co. Ltd. I tried to identify the key internal and external factors that are important to achieving the objective which is to find out the business opportunities. These come from within the company's unique value chain. SWOT analysis groups key pieces of information into two main categories:Ã¢ÂÂ¢Internal factors - The Strengths and Weaknesses internal to the organization. - We use a "PRIMO-F" analysis to help identify factors.
Ã¢ÂÂ¢External factors - The Opportunities and Threats presented by the external environment to the organization. - We use a PEST or PESTLE analysis to help identify factors.
COMPANY DETAILSDelta Life Insurance Co. Ltd. established mainly through the initiative of a group of Bangladeshi professionals then working abroad along with a few enthusiastic local entrepreneurs, started its operation in December, 1986 after the Government of Bangladesh allowed the private sector to operate in the insurance sector in 1984 to carry on the business of insurance in the Private Sector. A brief explanation as to the growth of life insurance business in Bangladesh is in order here. Bangladesh declared independence from the Pakistani rules on March 26, 1971 following which she had to witness a bloody liberation struggle with the occupation forces lasting for 9 months before they were defeated. Insurance business which was exclusively carried on in private sector before...