Cigna Corporation Essay Example | Topics and Well Written Essays - 1250 words

Cigna Corporation - Essay Example CIGNA Corporation has several opportunities in its external environment, including market exchange rates, which, by being an International Corporation, it can take advantage of by getting higher earnings from regions with high exchange rates. There is also increased demand for healthcare, increased disposable income that would benefit CIGNA, ethical growth from an expanding population, and a growth in retirees who require increased levels of health care. The various threats that face CIGNA include the reduction of premiums due to decreased disposable income after the financial crisis, health care reform regulation that directs them to insure patients through using pre-existing conditions, and the global recession that has seen unemployment levels go up thus plummeting a number of premiums to be paid. The paper also evaluates internal factors that affect the operations of CIGNA Corporation, i.e. strengths and weaknesses. The strengths that are inherent in CIGNA Corporation include a s trong national network that helps build credibility, a comprehensive offering that attracts a large customer base, growing global operations that ensure less reliance on the local market, and a well-coordinated workforce that helps realize the potential of its employees. The weaknesses that CIGNA Corporation possesses includes unstable earnings in the healthcare industry, lower market share in Medicare products, a maturing/mature industry, increased competition in the industry, and uncertainty facing the industry.... The paper also evaluates internal factors that affect the operations of CIGNA Corporation, i.e. strengths and weaknesses. The strengths that are inherent in CIGNA Corporation include a strong national network that helps build credibility, a comprehensive offering that attracts a large customer base, growing global operations that ensure less reliance on the local market, and a well-coordinated workforce that helps realize the potential of its employees. The weaknesses that CIGNA Corporation possesses includes unstable earnings in the health care industry, lower market share in Medicare products, a maturing/mature industry, increased competition in the industry, and uncertainty facing the industry. The paper then performs a TOWS analysis that seeks to analyze how the corporation can leverage strengths to take opportunities, how it can use opportunities to improve weaknesses, how it can use strengths to stave off threats, and finally how they can defend themselves from threats that cou ld take advantage of their weaknesses. Four major strategies came out of this TOWS analysis including: Leveraging their market visibility to take advantage of increased demand for health care, Use ethnic growth and retiree growth to counter the lower market share in Medicare products, Use its growing international market to counter the economic slowdown in the US, Come up with strategies to retain and increase market share especially with advent of health care reform. CIGNA Corporation Business Strategy Cigna Corporation (Cigna) is a global health service company. The company offers variant insurance products under medical and accident cover throughout United States.  These services are sold through the company employees and selected groups.  Beyond, United States, the