The case describes the transformation journey of a business unit in the middle of a major crisis – Allianz Auydhya CP, the subsidiary of Allianz, the largest insurance company in the world – into one of the most successful performers within the global group. In 2004, angry agents and employees resisting management efforts to restructure the perennial loss-making business, threatened to shut down the operations. Only three years later, under a new CEO and with a new management team willing to break many of the traditional rules of the game, the company became the first among Allianz subsidiaries in Asia in reaching its profitability targets. The case examines in detail the specific actions taken to change the culture of the organization, focusing on change initiatives which in the context of the local business culture seemed particularly controversial.
Learning Objective
1) Develop understanding of the key elements driving large scale organizational change. 2) Recognize the importance of managing differences not only among national cultures, but also within cultures. 3) Learn how effective leadership can support the change process despite obstacles in the environment.
Keywords
Change, Business Turnaround, Crisis Management, Human Resources, Cross-cultural Leadership, Financial Services, Insurance, General Management, Strategy
Settings
Thailand
Allianz
2004-2007
Available Languages
English
Related material
Teaching note
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