YT Ltd’s Functions for Creating Consistent Business Culture
Having a consistent business culture is essential in maintaining the stability of YT’s business strategy. Strategy planning is one of its core functions that should be responsible for creating a consistent business culture because it defines the direction that the firm will follow in carrying out its business activities. The strategic planning process is responsible for determining how the company’s resources will be deployed in the future. It should be consistent with the business culture because conflicts could arise and lead to the failure to realize these strategic objectives. Similarly, if the strategic planning process is inconsistent with the business culture, there is a high likelihood of resistance to change which could eventually lead to the loss of business. Therefore, strategic planning is one of YT Ltd’s functions that should help to create a consistent business culture.
Investment management is also another function of the firm that could help to create a consistent business culture. Most insurance firms have three types of assets, which include premiums, claims reserves, and shareholders’ funds. How the firm invests these resources in the market can help to create a consistent business culture, depending on the types of investment strategies pursued by these firms. Therefore, to improve the consistency of the business culture, it is important that YT perform its investment functions carefully to only promote activities that align with the business culture. Similarly, they can use this function to stop funding activities that do not align with its core values. In this regard, the firm’s investment function is a powerful tool for safeguarding the consistency of its business culture.