Geico's Mission Statement

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1. Mission and/or vision: list and critique the validity of your organizational mission statement and assess the level of employee 'buy-in' the organizational vision.
a. GEICO’s mission statement as a company is very clear and concise, stating the mission is to market and provide low-price, high quality insurance directly to consumers (GEICO, 2014). This mission helps bring the core of what GEICO hopes to achieve to the forefront, which is creating a product that is priced well and has universal appeal to consumers. This is done by marketing directly to consumers, forgoing the agent insurance model to lower costs. These lower costs allow the company to offer a high-quality product compared to many competitors. According to Fayad and Yoshida …show more content…

(2014). Strategic performance management systems: impact on business results. Journal Of Computer Information Systems, 54(3), 25-33.

3. Specific goals and objectives within division: here, list and discuss the specific goals and objectives of your own department or organizational segment.
a. With auto damage (AD), there are specific goals laid out by upper-management to achieve as AD is the keeper of the check book in many ways. Three specific goals currently set by management include:
i. Be a leader among insurance company peers in key metrics ii. Maintain excellent customer service iii. Reduce overall file severity through the use of company-specific guidelines regarding …show more content…

When it comes to the first goal looking at our peers, GEICO strives to be the highest-rated peer in categories such as severity and parts usage. In many aspects based on the currently available information, GEICO is behind one of its peers. These peers are not identified in the reports but that should not affect the handling of the claim. As a division, customer service is also a major focus by the company. Loyalty and seasoned business make more money for GEICO than customers who consistently change insurance companies. By keeping these customers happy, GEICO ensures their long-term viability as a source of income for the company. Finally, auto damage adjusters are responsible for keeping claims severity low and handling claims in the most cost-effective manner possible. Auto adjusters write estimates and value cars and writing an estimate too high or not getting an accurate value affects the company’s profit, which is shared with associates. These goals are just some of the many the auto damage department has on an everyday basis. While specific goals are always changing within the company, providing excellent customer service and a disciplined balance sheet are always ones AD strives to

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