Developing a new claims payment system that will talk to and be user friendly with the customer service management system would help to speed up efficiency and enhance quality of all departments within the organization. This streamlining would help the company as a whole to reduce costs and ultimately become more competitive and successful within the insurance market.
Being able to answer the following question is vital to any business. How would your organization continue to deliver mission-critical services if normal business operations were interrupted? Being able to quickly resume functioning enough to continue delivering the services that are critical to a company's mission are very important. When normal business operations are interrupted, an organization should use its business continuity plan to prevent disruption in the delivery of services to its customers. Regardless of the type or severity of business interruption, the delivery of services to customers should not be interrupted. An organization should be able to continue to service its customers while continuing to meet its mission and organizational goals (Module List, n.d.).
A Business Continuity Plan is a collection of policies, procedure, protocols and information that is developed, compiled and maintained in preparation for use in the event of a business interruption. The BCP should outline all steps an organization will need to take in order to quickly resume business. Having a BCP in place before anything happens is critical. If there is no plan in place, the organization may not be able to respond quickly enough to prevent an interruption in services. Business continuity planning is different from disaster recovery and crisis management in that the focus is not on rebuilding or lessening the effects of a disaster, emergency or catastrophe, but on sustaining the delivery of services essential to the organization's survival. If an organization has a sound business continuity plan, it can continue to provide mission-critical services, no matter what happens (Module List, n.d.).
The first step in assuring the continued delivery of mission-critical services in the event of a business interruption is to identify what services your business delivers, to whom these services are delivered, and to rank each in terms of priority. The next step is to do a business impact analysis which essentially is a means of systematically assessing the potential consequences or effects from a various number of business interruptions. When conducting a BIA, an organization gathers and breaks down information about its essential functions and processes. This information is used to determine how the organization would be affected if these functions and processes were disrupted. The final step is to determine which policies and procedures are needed. The importance of each policy and procedure is tied to the importance of the function that is dependent upon it (Module List, n.d.).
When talking about the IT functions of a business the business continuity plans should include the following key concepts:
Periodic back up of all computer files and a safe off-site storage place for those backup files is necessary
Frequent routine testing should be done on all computer backup files
Restoration of computer backup should be done
Telecommuting functions and computer security should be in place
Facilitating the ability of key personnel to work from home should be outlined and set up
A software and hardware inventory should be performed
Power-outage and surge protection should be evaluated
User and application password development and access should be initiated
Vendor agreements for software and hardware replacement and/or repair should be in place (Module List, n.d.).
Humana has a very extensive business continuity plan in place. Computer are files are regularly backed up and stored at an off site location. Information that is needed to service customers is kept on a shared drive that is accessible by anyone in the company no matter what service location they are at. In the even that there is a service interruption that affects one call center, the flow of calls are immediately diverted to the remaining call centers to be handled. Because the necessary information is available to anyone these calls can be handled in a seemless nature to the customer. The customer that calls in has no idea in what call center their call is being handled as it should not make any difference to them as long as they are...
("Stock Portfolio," 2011) What stocks performed the best and worst? The stocks that performed the best include: EFX, MCD, AAPL, SBUX, PETM and GMRN. The positions that were underperforming the others include: MSFT, AXP, TIF and JPM. Stocks for given portfolio were selected randomly what would you've done differently? There would have been a focus on having firms that pay higher dividends and growth. This is when the total returns in the portfolio
Microsoft Corporation 2. Toyota Motor Corp. 3. The Coca-Cola Company The data in the Table 2 reveals the Coca Cola has recorded a decline in its stock price within the last 3 months making investors to record a loss within the last three months. However, the company recorded a moderate increase in the stock returns between 1 and 5 years. Similarly, Microsoft Corporation records a decline in the stock price within the
This helps managers to make informed decisions about possible reactions based upon systematic events. (Estrada, 2002) Moreover, Brown (2010) determined that different approaches must be utilized under the CAPM model to account for risk. This is because the markets are constantly shifting and new events will take place which change the thinking of economists, analysts, fund managers and investors. To stay on top of what is happening, requires utilizing contrasting
Using a Technical analysis is equally ineffective since this analysis would not necessarily focus on the financial statements of the company, but rely on trends in the economy, price trends and overall market tendencies to predict where a particular type of stock will go. While this strategy is risk aversive in general, the point becomes moot again as the overarching quality of all stock in this economy rise and
Stock Portfolio Management Project Selected 10 companies Company Symbol purchase date purchase price Apple, Inc. APPL Industry/Sector: Technology/Personal Computer -- Investment Style: Large Growth Brocade BRCD Communications Systems Inc. Industry/Sector: Technology/Data Storage -- Investment Style: Small Growth Joy Global Inc. JOYG Industry/Sector: Farm/Const/Mach -- Investment Style: Large Growth Ctrip.com CTRP Industry/Sector: Consumer Services -- Investment Style: International Gerdau SA GGB Industry/Sector: Steal & Iron -- Investment Style: International Gol Linhas GOL Aereas Inteligentes SA Industry/Sector: Regional Airline -- Investment Style: International Green Mountain GMCR 10/21/2009 Coffee Roasters Inc. Industry/Sector: Processed Pkgd gds -- Investment Style: Small Growth Rio Tinto PLC RTP 10/21 /
Because of this, I would expect that U.S. Energy would have performed better, but that has not been the case. None of the individual holdings are overly dependent upon energy costs, such as we would see in the airline industry, so the performance of the portfolio does not seem to have been overly affected by the rise in energy prices. The proper approach to investing involves diversifying, not only across
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now