Texas Marketplace Insurance

Texas Marketplace Insurance

At a number of companies, processes have been used as surrogates for capabilities. Processes represent the flow of Texas Marketplace Insurance information, decisions, materials, which, taken collectively, represent its means for dedicating its internal resources to its customers. Defining processes begins with a customer focus: What are the flows that add value for Texas Marketplace Insurance customers? General Electric, for example, has identified sixe core processes, applicable to many business configurations.

1. Order to Remittance (OTR): the processes for conveying notice of specific customer requirements to the organization and for fulfilling those requirements.
2. New Product Introduction (NPI): The process for creating and distributing new products.
3. Quick Market Intelligence (QMI): the processes for infusing customer needs into the organization.
4. Globalization: The process for transmitting and using the firm’s services in countries throughout the world.
5. Supplier Management: The process for managing supplier relationships to reduce costs.
6. Productivity: The process for increasing efficiencies through higher or lower output.

Like groups at many other Texas Marketplace Insurance companies, the GE Corporate Business Development staff has created tools and techniques to improve each of these processes across the twelve major GE businesses. By doing so, the managers have engaged in a process, or capability, focus throughout the firm.

The focus on capabilities clarifies how strategies can be put into practice. To accomplish a Texas Marketplace Insurance strategy, a firm requires a series of capabilities. As firms generate these capabilities, two things happen. First, strategies such as customer intimacy, leveraged technology, operating efficiency, and so on, are translated into the specific capabilities necessary to accomplish them, which then in turn are translated into HR practices. Second, as these capabilities, or core competencies are created, they can be used to generate new business. As Honda, for example, created its core competence for making engines, it applied this know-how to multiple Texas Marketplace Insurance products, among them cars, lawn mowers, snow blowers, motorcycles, and so on.

HR professionals work as strategic partners when they identify and improve capabilities, both to implement strategy and to leverage new products.