Friday, August 23, 2019
Cigna Corporation Internal and External Factors Evaluation Matrix Assignment
Cigna Corporation Internal and External Factors Evaluation Matrix - Assignment Example It is evidently clear from the discussion that Cigna Corporation (Cigna) has services organized under five main divisions, health care, disability, and life, international (CIGNA International) and Runoff Reinsurance. Having wide operations in the United States and beyond means, the company is a greater challenge to handle external factors than a local business. Similarly, the wider operations mean the company has a wide management structure and numerous employees. This also means the company has numerous internal factors that affect its operations in one way or the other. Similarly, the wider operations mean the company has a wide management structure and numerous employees. This also means the company has numerous internal factors that affect its operations in one way or the other. As is the case with every other business, Cigna Corporation (which will be referred as Cigna in this text) has a great interest in factors happening beyond it. These factors largely determine their chanc es of survival and most importantly inform the organizationÃ¢â¬â¢s strategy. This is because external factors cannot be avoided or controlled. An organization can only adapt operations to maximize opportunities and adjust to any threats. In the case of Cigna, the following six factors have the greatest impact on their operations. The factors are considered from the wider grouping of political, economic, social, technological, environmental and legal factors. The most prominent political factor affecting Cigna at the moment is government regulations and policies. Since the election of President Obama, there has been continuous debate and eventual passage of the Ã¢â¬Å"Obama CareÃ¢â¬ . This is a health scheme which has sought to guarantee healthcare to all Americans. This is of great interest to health insurers who have been required to reconsider certain policy regulations. The most notable is a directive to have them ensure patients who have preexistent health conditions. From a business perspective, this government policy is likely to affect the profitability of Cigna as they will be required to make payments for conditions they would have avoided. Cigna is affected by almost every economic factor.