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Strategic management plan – HNB assurance


Strategic Management Plan – HNB Assurance

Word count 3117


The importance of TWOS analysis
TWOS analysis for HNB Assurance PLC
Maxi-Maxi Strategies
Maxi-Min Strategies
Mini-Maxi Strategies
Mini-Mini Strategies
Business model canvas

Additional information


1.0 Introduction

This report intends to carry out a TWOS matrix for the HNB Assurance PLC based on the previously conducted detailed SWOT analysis. Later, a separate business model will be developed using the CANVAS approach to accommodate one of the recommendations resulting from an identified opportunity. The sustainable strategy of the HNB Assurance PLC will be reflected through this whole exercise whilst referring to the vision, mission and values of the business. Being the 6th largest life insurer of the country, the company expects to further increase their market share and be the number one player in the Sri Lankan insurance industry (HNB Annual Report, 2016).

2.0 The importance of TWOS analysis

The TWOS matrix was first introduced by the Dr. Heinz Weihrich in 1982 as a tool to derive strategic options by mapping company’s internal strengths and weaknesses against the external opportunities and threats. Alternative strategic options derived from the TWOS analysis seem more practical and viable as it considers both internal and external conditions when formulating strategies (Johnson and Scholes, 2008). With the help of the TWOS matrix, four key strategies can be derived such as; Maxi-Maxi, Maxi-Mini, Mini-Maxi and Mini-Mini. These will be briefly explained within the following section.