Globalization
Globalization reflects the growing interdependence of markets, economies and organizations across national boundaries (Herbert, 2000). In order to succeed in a rapidly evolving global market, it is essential that an organization respond to such changes at the speed of light. When strategically positioning itself within the global marketplace, an organization must consider the significant factors that influence of globalization. Such factors include economic, financial, political, and sociocultural changes which create new market standards for competition, productivity, quality, variety, customization, convenience and timeless (Kerka,1993). These standards were strengthened with the innovative development in information technology, such as the Internet or dominance of the Microsoft operating system program Windows which bringing uniformity between computers thousand of miles apart (Herbert, 2000). With these ideas in mind, comes the story of an insurance company formed in the Spring of 1882. Chubb & Son began insuring ships and cargoes in the seapo
In 1998, Chubb introduced Global Edge, a trading name for an international initiative developed in partnership with Aon Risk Services. The partnership with Aon enabled Chubb to protect its profitable business and position each of its underwriters to seek new opportunities on a preferred carrier basis for multinational business. One of Chubb's strategies is to make global-minded decisions regarding its products while making local-minding decisions in marketing, advertising and management. Chubb takes pride in diversity within its organization as well as within its customer base. Developing multicultural skills within the organization to respond to new and changing workforces and consumers assists Chubb is rising above the competition. Chubb is dedicated to award-winning claim service, financial strength, global capability, underwriting expertise, loss prevention services and ensuring that its employees have a good working environment. Chubb has built a global underwriting, claims and customer service infrastructure that in today's competitive market
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Approximate Word count = 716
Approximate Pages = 3 (250 words per page double spaced)
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