Sun Life Case Essay

7990 words - 32 pages

Table of contents1: Summary 22: Main Contents of the report 3-202.1: Introduction 32.2: Problem and the followed procedure 42.3: Sun Life Financial from strategic managerial viewpoints 42.3.1: Sun Life Financial's strategic logic 62.3.2: SWOT analysis 102.3.3: PEST analysis 132.3.4: The attractiveness of the Chinese insurance market 172.3.5: Strategies and city choice 183: Results, conclusions and recommendations 224: Bibliography 231. SummaryThis report looks into the Chinese insurance market for Sun Life Financial in order to evaluate whether it is wise for the company to enter the Chinese market and if so, where to enter. To research whether Sun Life Financial is internally ready to enter ...view middle of the document...

The SWOT analysis shows that potential strength and weaknesses balance each other out, but according to our opinion, the strengths are stronger than the weaknesses. Opportunities are based on a big market potential, whereas threats are mainly due to the communistic history of the country. From the PEST analysis one can conclude that political factors are still a bit unstable (bureaucracy and market restrictions), the other factors have seriously improved.The Chinese insurance market is highly attractive because of the fact it is a nearly untapped market with high growth potential. In addition, market shares and profits can be obtained relatively easy. Entering the Chinese market now, would mainly mean that Sun Life Financial is coinciding with the general strategies of the overall companies. The Chinese government decided to open up six different cities, from which three are not attractive to Sun Life Financial at all. From the three cities that seemed attractive, Guangzhou looks most attractive to enter the Chinese market to us. It has the highest GDP growth and a relatively high percentage of households, which means the biggest market potential. Moreover, average salary is higher in this city.2. Main contents of report2.1: IntroductionSun Life Financial is an insurance company established in 1865, in Montreal, Canada. Since 1890 they have been internationalizing their company by expanding to numerous countries all over the world. Since the establishment, Sun Life Financial has managed to diversify their activities into different industries successfully. Nowadays, Sun Life Financial is one of the strongest players on the insurance market.Sun Life Financial is still interested in setting up their business activities in new untapped markets. China is one of these untapped markets with great opportunities since it opened up two geographical market areas in 1992. Due to the Communist regime China was not open to foreign companies. Soon after this decision Sun Life Financial decided to open a representative office in Beijing. The Chinese government required all foreign companies to have a joint venture agreement with domestic companies in order to maintain domestic involvement in Chinese business developments. As a result Sun Life Financial set up a joint venture agreement with the China Everbright Group. The China Everbright Group has been founded in 1983 and has been reported to make vast profits through the years.Sun Life Financial now faces several dilemmas. Among others, it has to decide on an entry strategy, choose a geographical market and watch their financial situation closely.This report will closely examine Sun Life Financial's strategy to enter the Chinese insurance market. In order to come to accurate conclusions several key questions will be answered. First of all Sun Life Financial will be studied from an internal perspective by examination of their business concept, organization concept and how these are linked together.Secondly,...

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