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Korea Auto Insurance Co. Inc. (Korea Auto Insurance) incurred both direct and indirect costs. Direct costs were incurred at branches as they performed sales and operating activities, while indirect costs were incurred at headquarters as it supported branches through the activities of the information technology, operating support, investment, marketing and general administrative teams. Indirect costs accounted for a significant part (41 per cent) of the total costs incurred. However, they could be neither directly traceable nor logically related to specific sales activities. Korea Auto Insurance currently allocated indirect costs incurred by headquarters to branches based on sales revenue. Using the amount of sales revenue as an allocation base for overhead was not regarded as a reasonable method by the Taejon City branch manager. Branch managers had complained that the current allocation base was not related to the level of actual benefits they received from the headquarters. They argued that the allocation process distorted the operating performances of branches as reflected in the books. The manager of the Taejon branch suggested that the ABC (activity-based cost) method be applied to solve the problems related to the current overhead allocation process.
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Headquarters' Overhead Cost Allocation at Korea Auto Insurance Co. Inc. is a Harvard Business (HBR) Case Study on Global Business , Texas Business School provides HBR case study assignment help for just $9. Texas Business School(TBS) case study solution is based on HBR Case Study Method framework, TBS expertise & global insights. Headquarters' Overhead Cost Allocation at Korea Auto Insurance Co. Inc. is designed and drafted in a manner to allow the HBR case study reader to analyze a real-world problem by putting reader into the position of the decision maker. Headquarters' Overhead Cost Allocation at Korea Auto Insurance Co. Inc. case study will help professionals, MBA, EMBA, and leaders to develop a broad and clear understanding of casecategory challenges. Headquarters' Overhead Cost Allocation at Korea Auto Insurance Co. Inc. will also provide insight into areas such as – wordlist , strategy, leadership, sales and marketing, and negotiations.
Headquarters' Overhead Cost Allocation at Korea Auto Insurance Co. Inc. case study solution is focused on solving the strategic and operational challenges the protagonist of the case is facing. The challenges involve – evaluation of strategic options, key role of Global Business, leadership qualities of the protagonist, and dynamics of the external environment. The challenge in front of the protagonist, of Headquarters' Overhead Cost Allocation at Korea Auto Insurance Co. Inc., is to not only build a competitive position of the organization but also to sustain it over a period of time.
The Headquarters' Overhead Cost Allocation at Korea Auto Insurance Co. Inc. case study solution requires the MBA, EMBA, executive, professional to have a deep understanding of various strategic management tools such as SWOT Analysis, PESTEL Analysis / PEST Analysis / STEP Analysis, Porter Five Forces Analysis, Go To Market Strategy, BCG Matrix Analysis, Porter Value Chain Analysis, Ansoff Matrix Analysis, VRIO / VRIN and Marketing Mix Analysis.
In the Texas Business School, Headquarters' Overhead Cost Allocation at Korea Auto Insurance Co. Inc. case study solution – following strategic tools are used - SWOT Analysis, PESTEL Analysis / PEST Analysis / STEP Analysis, Porter Five Forces Analysis, Go To Market Strategy, BCG Matrix Analysis, Porter Value Chain Analysis, Ansoff Matrix Analysis, VRIO / VRIN and Marketing Mix Analysis.
We have additionally used the concept of supply chain management and leadership framework to build a comprehensive case study solution for the case – Headquarters' Overhead Cost Allocation at Korea Auto Insurance Co. Inc.
The first step to solve HBR Headquarters' Overhead Cost Allocation at Korea Auto Insurance Co. Inc. case study solution is to identify the problem present in the case. The problem statement of the case is provided in the beginning of the case where the protagonist is contemplating various options in the face of numerous challenges that Incurred Indirect is facing right now. Even though the problem statement is essentially – “Global Business” challenge but it has impacted by others factors such as communication in the organization, uncertainty in the external environment, leadership in Incurred Indirect, style of leadership and organization structure, marketing and sales, organizational behavior, strategy, internal politics, stakeholders priorities and more.
Texas Business School approach of case study analysis – Conclusion, Reasons, Evidences - provides a framework to analyze every HBR case study. It requires conducting robust external environmental analysis to decipher evidences for the reasons presented in the Headquarters' Overhead Cost Allocation at Korea Auto Insurance Co. Inc..
The external environment analysis of Headquarters' Overhead Cost Allocation at Korea Auto Insurance Co. Inc. will ensure that we are keeping a tab on the macro-environment factors that are directly and indirectly impacting the business of the firm.
PESTEL stands for political, economic, social, technological, environmental and legal factors that impact the external environment of firm in Headquarters' Overhead Cost Allocation at Korea Auto Insurance Co. Inc. case study. PESTEL analysis of " Headquarters' Overhead Cost Allocation at Korea Auto Insurance Co. Inc." can help us understand why the organization is performing badly, what are the factors in the external environment that are impacting the performance of the organization, and how the organization can either manage or mitigate the impact of these external factors.
As mentioned above PESTEL Analysis has six elements – political, economic, social, technological, environmental, and legal. All the six elements are explained in context with Headquarters' Overhead Cost Allocation at Korea Auto Insurance Co. Inc. macro-environment and how it impacts the businesses of the firm.
To do comprehensive PESTEL analysis of case study – Headquarters' Overhead Cost Allocation at Korea Auto Insurance Co. Inc. , we have researched numerous components under the six factors of PESTEL analysis.
Political factors impact seven key decision making areas – economic environment, socio-cultural environment, rate of innovation & investment in research & development, environmental laws, legal requirements, and acceptance of new technologies.
Government policies have significant impact on the business environment of any country. The firm in “ Headquarters' Overhead Cost Allocation at Korea Auto Insurance Co. Inc. ” needs to navigate these policy decisions to create either an edge for itself or reduce the negative impact of the policy as far as possible.
Data safety laws – The countries in which Incurred Indirect is operating, firms are required to store customer data within the premises of the country. Incurred Indirect needs to restructure its IT policies to accommodate these changes. In the EU countries, firms are required to make special provision for privacy issues and other laws.
Competition Regulations – Numerous countries have strong competition laws both regarding the monopoly conditions and day to day fair business practices. Headquarters' Overhead Cost Allocation at Korea Auto Insurance Co. Inc. has numerous instances where the competition regulations aspects can be scrutinized.
Import restrictions on products – Before entering the new market, Incurred Indirect in case study Headquarters' Overhead Cost Allocation at Korea Auto Insurance Co. Inc." should look into the import restrictions that may be present in the prospective market.
Export restrictions on products – Apart from direct product export restrictions in field of technology and agriculture, a number of countries also have capital controls. Incurred Indirect in case study “ Headquarters' Overhead Cost Allocation at Korea Auto Insurance Co. Inc. ” should look into these export restrictions policies.
Foreign Direct Investment Policies – Government policies favors local companies over international policies, Incurred Indirect in case study “ Headquarters' Overhead Cost Allocation at Korea Auto Insurance Co. Inc. ” should understand in minute details regarding the Foreign Direct Investment policies of the prospective market.
Corporate Taxes – The rate of taxes is often used by governments to lure foreign direct investments or increase domestic investment in a certain sector. Corporate taxation can be divided into two categories – taxes on profits and taxes on operations. Taxes on profits number is important for companies that already have a sustainable business model, while taxes on operations is far more significant for companies that are looking to set up new plants or operations.
Tariffs – Chekout how much tariffs the firm needs to pay in the “ Headquarters' Overhead Cost Allocation at Korea Auto Insurance Co. Inc. ” case study. The level of tariffs will determine the viability of the business model that the firm is contemplating. If the tariffs are high then it will be extremely difficult to compete with the local competitors. But if the tariffs are between 5-10% then Incurred Indirect can compete against other competitors.
Research and Development Subsidies and Policies – Governments often provide tax breaks and other incentives for companies to innovate in various sectors of priority. Managers at Headquarters' Overhead Cost Allocation at Korea Auto Insurance Co. Inc. case study have to assess whether their business can benefit from such government assistance and subsidies.
Consumer protection – Different countries have different consumer protection laws. Managers need to clarify not only the consumer protection laws in advance but also legal implications if the firm fails to meet any of them.
Political System and Its Implications – Different political systems have different approach to free market and entrepreneurship. Managers need to assess these factors even before entering the market.
Freedom of Press is critical for fair trade and transparency. Countries where freedom of press is not prevalent there are high chances of both political and commercial corruption.
Corruption level – Incurred Indirect needs to assess the level of corruptions both at the official level and at the market level, even before entering a new market. To tackle the menace of corruption – a firm should have a clear SOP that provides managers at each level what to do when they encounter instances of either systematic corruption or bureaucrats looking to take bribes from the firm.
Independence of judiciary – It is critical for fair business practices. If a country doesn’t have independent judiciary then there is no point entry into such a country for business.
Government attitude towards trade unions – Different political systems and government have different attitude towards trade unions and collective bargaining. The firm needs to assess – its comfort dealing with the unions and regulations regarding unions in a given market or industry. If both are on the same page then it makes sense to enter, otherwise it doesn’t.
PESTEL stands for political, economic, social, technological, environmental and legal factors that impact the external environment of firm in Headquarters' Overhead Cost Allocation at Korea Auto Insurance Co. Inc. case study. PESTEL analysis of " Headquarters' Overhead Cost Allocation at Korea Auto Insurance Co. Inc." can help us understand why the organization is performing badly, what are the factors in the external environment that are impacting the performance of the organization, and how the organization can either manage or mitigate the impact of these external factors.
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