Allstate Insurance Company Case Study Example | Topics and Well Written Essays - 1250 words

Allstate Insurance Company - Case Study Example Table of Contents Abstract 2 1.0 Introduction 4 2.0Evaluation of Allstate's Goal-Setting Process 4 3.0Dimensions of an Effective Goal Setting Program of Allstate 6 4.0High-Performance Reward System of Allstate to Motivate Its Employees to Reach Its Diversity Goals 7 5.0Conclusion 9 6.0References 10 1.0 Introduction Allstate Insurance Company in order to improve the performance of the employees developed diversity strategy. This strategy was considered to be effective weapon for gaining competitive advantage. The company for achieving its goal has adopted various processes. The entire goal of the company was based on the performance standard of the employees. In this paper, the goal setting process of Allstate Insurance Company has been evaluated by considering the model of goal setting. The paper seeks to explain whether the company has fulfilled the dimension of goal setting. The paper includes the recommendations related to the high performance reward system that Allstate Insurance Company can implement for achieving its goals. 2.0 Evaluation of Allstate's Goal-Setting Process To improve the performance and to reach the goals, the insurance company thought of developing a goal-setting process. The diversity strategy of the company will enable it to reach the specific goals. The definite goal of the company facilitated to improve performance and increase motivation level of the employees. The goal setting model is required to be developed by a company otherwise the entire goals as well as objectives will suffer. The appropriate model facilitates a company to reach its ultimate planned targets (Hellriegel & Slocum, 2007). Goal Setting Process The company in order to enhance the performance level is required to follow three processes of goal setting model. The first step is challenging goal developed by the company. The company took a challenge to improve the performance and adopted diversity strategy. The strategy was developed by considering two major aspects of internal as well as external focus. The internal challenge is to develop the potential of employees by providing them with tools, opportunities and resources. The external challenge is to relate the employees with the experience and background of the market where the company was operating. This challenge had to be faced by the company in its daily operations (Hellriegel & Slocum, 2007). The second process is that of moderating. This step would recognize the ability of the company to meet its goals that have been committed. In this process the company received feedback from the employees regarding the improvement process that has to be implemented. The company generally focused towards the committed goals in this process and thus for goal achievement, various complexities have been raised. The next process involves mediating; at this point the company moved on a specific direction and gave utmost efforts with strong determination to reach the strategy that has been set. With such positive attitude the company gained positive performances from the employees (Hellriegel & Slocum, 2007). The company provided rewards to the employees owing to their effective performance which resulted in increase in satisfaction level of the employees. The ultimate result of all these processes was the achievement of the company in fulfilling its challenging goals (Hellriegel & Sl

Analysis of the attractiveness of the UK venture capital industry Essay

Analysis of the attractiveness of the UK venture capital industry - Essay Example Private Equity and Venture Capital Report on Investment Activity 2008’ in its survey has determined that worldwide the investment has seen a steady rate of growth with a few undulations in the last three decades (Coups, 2009). There was a steady spurt in investment from year 2003 onwards until it peaked at 31,634 Â £m in 2007. In 2008 it fell by 11,609 Â £m probably due to the effects of worldwide recession but still maintained a healthy figure (Fig.1). In the UK, the investment figure was 10,227 Â £m in 2006, rose to 11, 972 Â £m in 2007 but fell sharply to 8556 Â £m in 2008 (Coups, 2009). All asset classes have now suffered due to the impact of worldwide recession and Private Equity is no exception. However such funds which were raised during previous such downtrends in the years 1991-94 and 2001-03 did produce outstanding results for the investors (BVCA, 2009). Over long term, UK private equity has outperformed other asset classes in a comprehensive manner. The annual IRR in 2008 for all funds was -9.8% which compares favourably with public equity market performance (BVCA, 2009). In fact over a span of the last ten years private equity returns per annum were approximately ten times higher than that of the FTSE All-Share Index and four times more than the pension average (BVCA, 2009). When considered region wise, investment in the years 2007 and 2008 has been steady enough throughout the United Kingdom, but there was a major fall in the financial capital of the country, London where it fell from 5730 Â £m in 2007 to 3590 Â £m. Almost similar decline was observed in the South East, East Midlands and the North West. In the East of England, Yorks and Humb and West Midlands investment figures did not change much in these two years. Surprisingly, investment rose remarkably to 1052 Â £m in 2008 from 393 Â £m in 2007 in Scotland (Coups, 2009). The major investment was in UK Technology Companies where 596 Â £m was invested in 2008 as compared to 835 Â £m in 2007. Particularly