STRATEGIC IMPLEMENTATION MANULIFE FINANCIAL

STRATEGICIMPLEMENTATION: MANULIFE FINANCIAL

Tablesof the Content

ORGANIZATIONALDESCRIPTION

COMPANYOVERVIEW

STRATEGICPURPOSE / APPROACH

Mission

Vision

Corevalues

StrategicDirection

ASSESSMENTOF ORGANIZATIONAL STRATEGY

STRATEGICACTIONS THAT HAVE POSITIVE IMPACTS

FinancialServices for all

Valueof products

MarketShare

ValueChain

STRATEGICACTIONS THAT HAVE NEGATIVE IMPACTS

Restructuringof the Organizational structure

Subscriptionto Commercial Loans

STRATEGICANALYSIS

CORPORATEGOVERNANCE

PanelSize and Composition

SequencePlanning, Appointments and also Monitoring

Selectionand Nomination

EquippingDirectors to fulfill Their Roles

Board,Panel and Individual Overseer Evaluation

DirectorCompensation

CORPORATESOCIAL RESPONSIBILITY AND CITIZENSHIP

CommunityInvestment decision

Volunteerism

Makingstronger communities

Endorsingoverall health

Championingeach of Manulife’s Employees’ Volunteering Endeavors

Promotingnon-profit corporations worldwide

Buildinga difference with all the USA Approach inside Canada

Makinghappier futures intended for Boston’s youth

INTERNATIONALSTRATEGY AND GLOBAL COMPETITION

Asia

Canada

Speculations

References

  1. ORGANIZATIONAL DESCRIPTION

    1. COMPANY OVERVIEW

ManulifeFinancial stands out as a multinational corporation that originatesfrom Canada, but also operates in other several regions on the globe(Manulife.com, 2014). Manulife Financial Corporation providesfinancial services and products to its clientele in the UnitedStates, Asia, and Canada (Manulife. com, 2014). The services that areusually given by Manulife Financial involve those that have to dowith financial protection as well as management of wealth they areproducts such as term life insurance, group health and term lifeinsurance, pension products, mutual funds, long phrase care services,annuities as well as to banking products (Manulife. com, 2014). InAsia and Canada, the company undertakes its operations under thebrand name “Manulife Financial Corporation.” On the other hand,Manulife Financial Corporation is known as “John Hancock” in theUnited States (Manulife.com, 2014). The corporation gives servicesconcerning asset management in a bid to help its institutionalcustomers all around the globe this is with all the inclusion ofhome retrocession and special casualty, and numerous reinsurancesolutions (Manulife.com, 2014). The organization considers theworld’s population to comprise its clientele and consumer base.Manulife Financial Corporation has been by able managers in itsvarious branches for a long time, owing to its gradual growth andexcellence. It is noteworthy that the company has greatly excelled inits market capitalization in different financial markets. The goodperformance can be attributed to several main factors such as theformulation and execution of a good and well-thought strategic planas well as having an effictive management to facilitate itsimplementation. This paper examines how well Manulife Financial hasplanned for the achievement of it corporate goals and how well orbadly they are prone to implement their strategy. It is crucial toembark on Manulife Financial’s strategic plan as is currently aswell as analyze past occurrences related to the implementation of thecorporate strategy.

1.2STRATEGIC PURPOSE / APPROACH

Inits strategic action plan, Manulife Financial illustrates its coregoals. They include:

• Developing,nurturing, venturing and investing into the Asian market opportunityin the amicable and profitable way possible (Manulife. com, 2014).The organization realized the potentialharbored by the markets inAsian. There are many idle possibilities as is not the case in theWestern markets which that are, somewhat, drenched by competitors.

• Developingand growing of its wealth management as well as thenon-guarantee-dependent asset management in the Asian, Canadian, andthe U. S. markets (Manulife. com, 2014). This plays the role of anobjective that is triggered towards the enhancement of therelationship that exists between the company and the customers.Additionally, it will likewise help in enhancing the company`scustomer base since these products are not homogenous to othersoffered by competitors in the market.

• Continuingthe progress of its Canadian business (Manulife. com, 2014). Thecompany focuses at expanding its functions by franchising its brandas well as introducing it in new markets. By so doing, the companywill manage to have diversified risks by simply expanding its pool ofinvestments and hence income.

• Thecompany also aims at improving its Return On Equity and placingitself at lower risks in the United States (Manulife. com, 2014). Thegrowth in the ROE will encourage more investors to increase theirshareholding capacity since they will be reassured of adequatefinances to cater for the company’s operations and functions.

Theseobjectives are linked to the mission, vision and corporate values ofthe company to determine the direction that the firm is scheduled tofollow. Manulife’s management found it wise to combine the missionand vision to come up single statement. The statement reads, “To bethe most professional financial services organization on earth,providing strong, dependable, trustworthy and forward-thinkingsolutions for the clients’ most considerable financial decisions(Manulife.com, 2014).” The vision/mission statement for Manulife issimple, clear and easy to grasp. It is not expressed in difficultvocabulary or jargon. The statement is characterized by brevity andis, therefore, unique and exceptional.

Mission

Itreads, “…providing powerful, reliable, trustworthy andforward-thinking solutions for the clients’ most considerablefinancial decisions (Manulife.com, 2014).” This statement isutilized by the organization to demonstrate its competence by makingtime for every detail there may be about any matter. The clause actsas profound expression as to what the company ought to be rememberedfor having achieved. The specific organizational goals are describedconcisely and plainly.

Vision

Theinitial part of the statement represents the company’s visionstatement it states the long term prospects for the company as wellas explaining the various functions of the business. The visionarysection reads, “To be the most professional financial servicesorganization on earth … (Manulife.com, 2014).” By the company’saspiration to be the most professional organization in the provisionof financial services, the management wants to communicate thedirection the organization is headed as well as establishing astandard to fuel harmonization of activities to support corporatevalues on the accomplishment of the position. at present, the companyhas not been able to reach prospective customers in the world, butthe creative and prescient vision statement denotes the intention.

Corevalues

Everyvision must be steered by appraisal. Thevalues are categorized as the main doctrines which guides theattainment of corporate objectives and goals in the long-term. The values tend to be set out when it comes to guiding the traitsand attitudes of the business’s stakeholders they must be guidedabout how to carry out their activities by always aligning individualinterests with the corporate objectives goals. Manulife’s valuesare summarized within the acronym: “PRIDE (Manulife.com, 2014).”

• Professionalism

• Realvalue to customers

• Integrity

• DemonstratedFinancial Power

• Employerof choice

Manulifegives an inward approach to facilitate the achievement of itsorganizational goals and objectives. It identifies the management andemployees as the key players towards the success of the organization(FinancialPost, 2014).In its strategic plan, the company explicitly lays down the stepsthat are to foster success when executed. Its strategic plan involvesthe clear planning of inputs and the corresponding expected outputsas well as the method through which the strategy is to beimplemented. This involves a consideration of the costs involved andadjustments necessary.

StrategicDirection

TheBoard has greatest oversight for going over Manulife’s strategiesalong with plans, and overseeing Manulife’s performance withexecuting Manulife’s techniques and meeting organized objectives.Each season, after consultations combined with meetings with thesupervision, the Board assesses and approves organizing businessplans for that Company and its divisions, and related opportunitiesand pitfalls to Manulife (Manulife. com, 2014). The Board furthermoreconsiders issues associated with Manulife’s lines connected withbusiness and testimonials the allocation in Manulife’sresManulife’sces.

TheBoard receives regular updates through the CEO and supervision onstrategic trends and Manulife`s overall performance vis-à-vis theorganizing plan, and makes sure plans are altered to reflectcompletely new conditions or ecological factors (Manulife. com,2014).

Theboard also reviews along with approves financial assertions, majorinvestments, the actual raising of cash, organizational restructuringalong with items of significance such as mergers, acquisitions alongwith divestitures (Manulife. com, 2014).

  1. ASSESSMENT OF ORGANIZATIONAL STRATEGY

Anyorganization`s aim, while making and implementing its organizationalstrategy is a success. However, it is noteworthy that the strategicplan may fail or succeed depending on how efficient it is. Astrategic plan that is oblivious of important variables that arepertinent to the organization is prone to fail. This means thateffective planning is the first milestone to the success of the planof action. Manulife is not exceptional an intricate scrutiny of itsorganizational strategy indicates its strong points as well asloopholes that could lead to failure. This section looks at each ofthese categories in details there are those strategic actions thatprovide value and competitiveness to the advantage of theorganization, and there are those that impact negatively to the valueand competitiveness of the same organization.

    1. STRATEGIC ACTIONS THAT HAVE POSITIVE IMPACTS

FinancialServices for all

TheUS division of Manulife (operating mostly underneath the &quotJohnHancock&quot name) provides products and services to wealthypersons, manages pension plans for small as well as medium-sizedbusinesses (Manulife. com, 2014). It also offers mutual fund items tomedium-sized companies.

TheCanadian division offers the broadest variety of services from avariety of corporate as well as individual life and medical careinsurance and mutual funds to banking services throughout theManulife Bank of Canada (Manulife. com, 2014). In its strategic planfor improvement from medium to high-income earners, the Manulife`sCanadian division then focuses its products to members of numerousprofessional, alumni as well as retiree groups and associations(Yusufali, 2013).

TheAsian division offers insurance and wealth managing products togroups and individuals. The Japan division serves on the list as oneof the biggest insurance markets around the globe and, therefore, hasbeen set up as being a distinct entity (Manulife. com, 2014).

Manulifefinancial also offers Reinsurance services. The Reinsurance divisionaids in the management of risk by providing insurance products toother insurance companies. It also intends to focus more within thelong-term-care market.

Bythe fact that the company is able to offer its products to a varietyof society members, people gain confidence in it and are willinglyready to subscribe to the services offered. This is as opposed to acompany that offers its products for a small niche market. The latterlacks confidence in potential customers who purport it to befinancial inability.

Manulife’sventure into a variety of products that suit all the people thentranslate into good margin profits. The more Manulife sells, the morethe company earns. They therefore are able to increase their capitalbase, to aid in the further implementation of corporate goals andobjectives.

Thecompany is also able to diversify the risks involved in capitalmanagement and life insurance. The two areas are critical ones andrequire large amounts of finances to provide for the occurrence ofthe insured risks. However, Manulife spreads the risks from a highlyvolatile item to a lower one. This ensures security in that the risksassociated with the line of business are quenched.

Valueof products

ManulifeFinancial is able to offer a variety of products that arecomprehensive in terms of consumer needs coverage (Manulife.com,2014). This explains why the company still enjoys a large marketshare despite the tough competition. Manulife ensures that themonetary and non-monetary worth of products it offers (the intrinsicvalue of products) is of higher value than that of substitutes in themarket. In this way, Manulife attains a good competitive advantage.

Theindustry in which Manulife Financial Corporation venture into ischaracterized by aggressive competition and imitation of products.Since the products as almost homogenous, the company that gainscompetitive advantage over the others is the one that attaches mostvalue on its specific products. By this, the products offered shouldbest meet and satisfy or even surpass the customers demand. Manulifeis well aware of this and has integrated it in its strategic plan asamong the key drivers of the firm’s success.

MarketShare

ManulifeFinancial benefits from huge market share in most of the economies ithas invested in. The company’s good positioning strategy places itahead of its competitors because Manulife enjoys more brand loyalty(Yusufali, 2013). It is, therefore, not easy for competitors toeliminate Manulife from the market. In Asia too, the company has agood repute owing to its international rankings and worldwidestandards. These strengths would support the company in the ingressinto new markets or in its bid to increase its operations to othernew expanses. The target consumer base would not need much sweat tobe expended in convincing them as would be the case for new andnon-reputable companies.

Thefact that Manulife financial entered its markets long time ago, earnsit competitiveness as it does encounter as much entry barriers intoany market, as a new company does. The company’s reputation speaksfor itself and, therefore it is warmly received in new markets.

Inits strategy to capture new markets, Manulife Financial employs othermethods as franchising and takeovers rather than entering the marketas a fresh player. This strategy ensures that the cost of entry intonew markets is minimized as much as possible.

ValueChain

Manulife’sstrategic plan lays down a comprehensive value chain. It defines theprocess through which products are produced and distributed. Thevalue chain is constructed in such a way that it addresses the demandof products by the consumers and its conversion into generatingexactly what the consumers require. The value chain is made up ofInbound Logistics – Operations- Outbound Logistics – Marketingand Sales – Service (Yusufali, 2013). These areas are furthersub-divided into specific individual activities and are classifiedaccordingly. The primary value chain is also complemented by supportactivities which include procurement, technological development,human resources and infrastructure(Manulife. com, 2014).All these components add value to the primary chain, ensuring thatthe demand for products is fully satisfied. With this, Manulife has acompetitive edge against its competitors whose value chain would beless inclusive, and hence ineffective.

    1. STRATEGIC ACTIONS THAT HAVE NEGATIVE IMPACTS

Restructuringof the Organizational structure

Theheadquarters of Manulife Financial Company’s Canadian division areon King Street North along the Conestoga Parkway, found in Waterloo(Therecord.com, 2014).Despite their express employee benefit and appreciation, analternative narrative unfolded over 2012 as the company implemented anew restructuring program to help streamline operations. Manyback-office jobs were transported overseas between 2006 and 2012(Therecord.com, 2014).During the third week of May, Manulife had taken out 153 jobs withinits Canadian split, including 90 within Kitchener and Waterloo(Therecord.com, 2014).Topping the number was Waterloo with 59 layoffs, followed byKitchener with thirty-one. Toronto tagged along with thirty morelayoffs the remaining ones being posted across the other elevenplaces of work for Manulife Financial Corporation. However, thecompany’s administration claimed that although the review of thecompany`s organizational design had done away with a few jobs, otheremployees were relocated to Manulife`s rising business operations inAsian countries insinuating promotions at work. Manulife`s websiteclaims that the company employs about 3,000 people who work in thecompany’s offices in the various regions such as Malaysia,Philippines and China (Therecord.com,2014).

Theseemployees are endowed with responsibility that involve accounting,back office, finance, information technology, and contact centreactivities in Manulife offices that are located in various parts ofthe Asian countries and the United States. The first launch ofManulife Global Companies’ international offices was done inMalaysia in 2005(Therecord.com, 2014).It was then followed by the establishment of offices in Manila,Philippines in 2006. In 2010, the company set up the facility inChengdu, Tiongkok. The offices in Manila holds an overall of 1, 750employees. Other departments situated in Waterloo Region in additionlost jobs to help Manila(Therecord.com, 2014).

Subscriptionto Commercial Loans

Manulifefinancial makes the purchases of its assets from the commercial loansoffered by various commercial banks. Thismove can be viewed as a weak one as there is a high risk ofdelinquency and, subsequently, it could lead to the auction andfreezing of the assets to pay up for the loan and this harmsoperations in the organization. Manulife Financial ought to considerthe buying of assets on credit, as opposed to having them at theexposal of commercial banks. The rates of delinquency on the loan arevague for the company for every financial year. When the delinquencyrates hastily rise, it may translate to the company making hugelosses and subsequently pushing the company’s net income belowzero. This would discourage investors in the company, in a great way(Therecord.com,2014).

  1. STRATEGIC ANALYSIS

    1. CORPORATE GOVERNANCE

ManulifeFinancial was thought to be having the very best Overall CorporateGovernance in the International scene at the annual CorporateGovernance Honors held earlier that month in New York (Manulife. com,2014). This is the actual fifth year which Corporate Secretary, a topU. S. governance along with compliance publication, has celebratedbest companies and professionals within the corporate governance,compliance and authorized community for demonstrating innovation andbest practices in corporate governance.

Manulife’smanagement in corporate governance, as well as board structure alongwith renewal, board effectiveness along with company transparencyalong with enhanced disclosure have been key factors for the panel ofexpert judges (Manulife. com, 2014). The financial crisis profoundlychanged the entire world and collectively Manulife`s managementresponded to ensure the company`s success within the new environment.In the last few years, Manulife through its Board implemented manysignificant corporate governance enhancements focusing on the Board’srange of skills along with expertise, strategy along with clear andopen disclosure (Manulife. com, 2014).

PanelSize and Composition

Manulifebelieves that its Board of Directors is most effective and provides anew diversity of expertise and viewpoints. Working with theGovernance Panel, and approved of the Board, the Chair is mandatewith the leading task in developing a great analytical frameworkpertaining to assessing desired competencies, skills, background andpersonal qualities that ought to be used in the implementation of thecorporate strategy.

SequencePlanning, Appointments and also Monitoring

TheManagement Assets and Compensation Panel oversee Manulife’s HumanResource strategy (Manulife. com, 2014). It conducts an annualwrite-up on senior management succession planning process and alsoglobal corporate management development programs. This particularCommittee also approves the appointment of senior citizen managementand reviews the annual efficiency of senior management (Manulife.com, 2014).

Selectionand Nomination

TheGovernance Panel defines the essential skills and expertise requiredof Directors and nominates candidates to the Board for selection bythe company’s shareholders (Manulife. com, 2014).The GovernancePanel analyzes the Board’s preferred expertise and backgroundprofiles to guarantee that they contain generally based and diverseexperience that could support Manulife’s operations and tactics.This gives the Governance Committee and also the Board of Directorsthe power to nominate experienced individuals.

Priorto be able to joining the Panel, a prospective Director meets theChair and the CEO to speak about their expectations in terms of theirrole in the Board, the role in the Committees and their expectationin the contribution of the Director including the effort and timerequired to succeed (Manulife. com, 2014).

EquippingDirectors to fulfill Their Roles

Manulifemaintains an orientation system for new Directors, as well as anefficient continuous education program for all of its Directors(Manulife. com, 2014). Manulife has the ability to attractexperienced and sophisticated Directors from a variety of backgroundswith diversified professional skill units. As such, its orientationprogram can be tailored to suit particular personal needs. Thecontinuing education program includes Directors` Seminars that canhelp Directors better comprehend Manulife`s strategies, surgicalprocedures, and external enterprise environment, among otherdevelopments (Manulife. com, 2014). In addition, the Directors`Manual is often a comprehensive reference source about the Companythat features an illustration of Manulife`s values and ethicalconduct (Manulife. com, 2014). With its regular updates, theDirectors` Manual is additionally given to the management andbusiness officers with governance related responsibilities.

Board,Panel and Individual Overseer Evaluation

Eachcalendar year, the Board does its annual assessment process, whichincluded analysis of results and strategies for improved Board, Paneland Director efficiency (Manulife. com, 2014). These results arereviewed because of the Governance Committee and because of thecomplete Board of Directors.

TheChair, Directors, and the whole Board meets on their own to plan onthe implementation of necessary important recommendations. TheGovernance Panel monitors progress. The Chair and the GovernanceCommittee are bestowed with the responsibility to ensure there isutmost accountability for these exams.

DirectorCompensation

Directorsare required to hold a collateral position in Manulife which has aminimum value regarding $450, 000 (Manulife. com, 2014). The Boardbelieves it will help align Directors’ ambitions with those in theshareholders and enables Manulife to attract and retain proficientand experienced owners.

TheBoard undertakes a biennial write-up on director compensation inorder to see to it that it meets up to the purpose of efficientlyaligning the interests of owners with long-term shareholder hobbies.

Manulifereports within the economic, environmental and cultural dimensions ofthe company’s services, operations and area activities annuallywithin its Public Answerability Statement. The record detailsManulife’s commitment to social duty, environmental sustainability,excellence running a business conduct and corporate governance(Manulife. com, 2014)

Manulife,with this detailed strategy and appraisal of its corporate leaders,has the ability to compete effectively in the industry where othergiant companies are competing for the same market opportunities.Manulife has a strong corporate leadership and if every other aspectis effected as best as possible, then Manulife could see its way upthe financial ladder. The appraisal and good compensation of leadersis a great incentive in encouraging the employees to unleash theirbest efforts towards the achievement of corporate goals through thearticulation of the strategic plan.

    1. ORGANIZATIONAL ETHICS

ManulifeFinancial Corporation’s Program Code of Business Performance andEthics (the &quotCode&quot) establishes the organization’s pledgeto ethical conduct as well as the practice of compliance with allgermane legislation and avoidance of any kind of potential or actualconflicts of interest (Manulife. com, 2014). The stakeholders haveall got to be thoroughly acquainted with its provisions and conformthemselves to adhering to the values outlined by both the letter andthe spirit of the Code. Manulife enjoys indubitable honesty andintegrity from its tradition of uncompromising loyalty to the chiefstandards concerning business performance (Manulife. com, 2014). Thecompany’s reputation constitutes of its most valuable assets and ithas to be protected. The Code is put in place with the intention ofproviding guidance that is principle-based for the daily operationsin the company’s offices. It is not just a compendium but it isabout rules, including all Manulife policies. It watches overManulife’s behaviour and also important in that some specificconditions are included in it, those that can help illustrate certainprinciples or, where needed, to address general governancerequirements (Manulife. com, 2014).

TheCode is made up of eight main sections:

  1. Purpose

Thesection stipulates the Code`s purpose, its intended use and howstakeholders handle specific concerns and issues under the Code ofconduct including those that involve auditing and accountingconcerns (Manulife. com, 2014).

  1. Living Prices for Manulife Financial Corporation

Thesection describes the company’s corporate prices. As thesestandards guide all aspects of the Company`s operations, it is theduty of every stakeholder who is addressed by the Code to familiarizewith, and to be vigilant in its regard, and apply the Code to each ofManulife’s day-to-day dealings (Manulife. com, 2014).

  1. Ethics in the Workplace

Thispart articulate all the relevant principles associated withprofessionalism, fairness, and safety on the jobs (Manulife. com,2014).

  1. Ethics in the Business Relationships

Thevital issues tackled in this particular part include honesty andjustness in all of Manulife’s contacts with shoppers, observance ofall pertinent laws and the special concerns which could arise whenmaking products available and any other activities of value to assistgovernment representative (Manulife. com, 2014). In addition, theaspects of marketing and lobbying campaigns and relevant financialissues, certain antitrust troubles and the manner in which enquiriesby the media are supposed to be handled are hereby discussed(FinancialPost, 2014).

  1. Conflicts of Interests

Oneof the main issues addressed in the Code is for people and thecompany to stay clear of conflicts of interests. This section givesinsight about inconsistencies which may arise in a variouscircumstances, including the offering and acquisition of productsinvolvement in Company dealings that can potentially promote adirector, staff, officer, representative or even their familieshiring members of the family and engaging in external work (Manulife.com, 2014). This part also addresses how internal information shouldbe handled and treated, the proscription on insider selling andbuying, the shielding of the opportunities within the company and theappropriate use of the Company’s name (Manulife. com, 2014).

  1. Handling Information

Thispart is committed to addresses the necessitation of the eliminationof unsuitable or unofficial revelation of information received by theCompany to guarantee that the confidentiality of the claimants,applicants, debtors, policyholders, representatives, employees, aswell as investors is cosseted (Manulife. com, 2014). The area alsoaddresses the company’s function of formulating and maintainingtruthful records as well as holding fast to regulations pertaining tothe disclosure and examination of intellectual property laws(Manulife. com, 2014). There has been ongoing discussion on thecompany`s use of communication devices that include email, theinternet and phone, as well as the ban for the unlawful disclosure ofthe Company’s information through chat rooms on the internet, aswell as through other electronic means.

  1. Ethics and the Law

Thispart expounds on the requirement of all stakeholders in the companyto be aware of and abide by rules, restrictions and regulations. Italso touches on their obligation to work in partnership withinvestigators who could either be internal or external such asauditors (Manulife. com, 2014). This part also expounds on the dutyof stakeholders in helping to report theft, fraud, and also any otherkind of dishonest conduct that can be deduced.

  1. The final Word

Thissection reinforces the benefits of employees performing exemplarywell and good reasoning in the bid of maintaining Manulife’s greatstatus.

ManulifeFinancial’s organizational ethics are well stipulated and allinclusive to cover all the relevant areas that pertain to ethicalbehavior for all necessary stakeholders in the carrying out ofbusiness activities with or for the company. With such a code ofethics, the company is headed for success. The activities are easy tocarry out as there are no conflicts of interests (FinancialPost, 2014).The company is also very safe from being in loggerheads with the lawfor infringement of any kind cases are rare. The high reputation ishence maintained and this acts as a competitive advantage againstManulife’s competitors.

    1. CORPORATE SOCIAL RESPONSIBILITY AND CITIZENSHIP

Manulife`sapproach in respect to corporate citizenship in various parts aroundthe world aligns with the company`s focus on delivering strong,trusted, trustworthy and forward-thinking solutions for Manulife’sclients and for the communities where many of us work (Manulife. com,2014).

Manulife`sgoal is to achieve a variety of positive social influences in areasthrough workplace safety, diversity and versatility to employeehealth and fitness, corporate giving along with employee volunteerism(Manulife. com, 2014).

Thisextends to the environment also. Manulife’s commitment on theenvironment stems on the recognition that a wholesome environment isvital on the long-term well-being individuals Company, Manulife’semployees, and the lots of people Manulife serves around the world.

Manulifeis also a proud long-term investor in many countries where thecompany conducts it business around the world. Whether it`s throughManulife’s services or Manulife’s procedures, Manulife’songoing investments in these economies help support their particularlong-term growth along with development.

CommunityInvestment decision

Manulife,its employees along with its other programs contributed an overall of$25. 2 million to over 1, 000 non-profit organizations around theworld in 2013 (Manulife. com, 2014).

Itis among Manulife’s desires to maximize the positive impression andmomentum to pursuant individuals. Manulife focuses its efforts inthese three areas:

Harnessingthe ability of volunteering – Manulife continues to demonstrate itsleadership throughout the time, attention along with expertiseManulife’s folks donate as volunteers. Volunteerism helps amplifyand expand the scope individual’s charitable giving programs andhas positive, lasting effects at the community level (Manulife. com,2014).

Promotinghealth along with wellness – Among the world’s largest insurancecoverage companies, Manulife strongly believes in the importance ofpromoting health and fitness and supporting the prevention of diseasethrough active, healthy living (Manulife. com, 2014).

Empoweringcommunities – Manulife is committed to this and vitality with thecommunities where many of us operate. Manulife supports a wide rangeof social, educational and employment programs geared towardsempowering children, youngsters and families, building socialinclusion for everyone, and fostering financial and environmentalsustainability (Manulife. com, 2014).

Volunteerism

Manulifeenvisions the making of a better future, one hour at a time(Manulife. com, 2014). This is the idea at the heart of Manulife’sway of volunteerism. Manulife perceives it that every volunteer, andevery hour returned helps to build stronger, more pliant communitiesand a better future for everyone.

In2013, Manulife employees took volunteerism in order to new heights,providing 88, 751 hours of time globally to support several localcharities via Company-led initiatives and programs built to encouragevolunteerism (Manulife. com, 2014).

Dueto the fact 2010, this kind of simple still serious notion possessesoffered for the reason that foundation regarding Manulife’s methodof management and business duty. In a organization surroundings wherethe thought regarding presenting returning possesses historicallyrecommended creating cheques in order to charitable corporations,each of Manulife’s responsibility in order to volunteerism isreflective on the carrying on advancement in terms philanthropy iseffective. Using volunteerism since each of Manulife’s unique bringabout is all about transforming into a far more effective companion.It`s regarding helping as a driver along with uplifting people to getinvolved with generating enduring modifications on the communitylevel.

Makingstronger communities

Manulifealways wants that each of Manulife’s clients flourish in that thetowns, areas along with neighborhoods in which many people stay aremade safe, effective and wholesome (Manulife. com, 2014). That’swhy the company gives attention to helping community endeavors thatare aimed at helping all people making them able to operate,understand and succeed in life.

Endorsingoverall health

Asone of the most significant living insurance providers in the world,Manulife has a direct curiosity regarding particular advertisingregarding overall health that the company tries really hard to helpbring about benefits for the whole community (Manulife. com, 2014).

Championingeach of Manulife’s Employees’ Volunteering Endeavors

Volunteerismhappens to be an element of which Manulife views as a business. Foeverything to end well, many Manulife’s managers have continued topresent each of Manulife’s workers with all the tools along withplans to ensure that they complete a constructive difference from thecorporations along with will cause imperative that you these(Manulife. com, 2014). In 2012, Manulife workers along withsubmitting lovers volunteered over eighty-five thousand hours towardsan array of benevolent organizations along with will cause (Manulife.com, 2014). Each of Manulife’s employees’ donations of their timeis a crucial side of the bargain along with a way to expand thefacility the management and business contributions.

Promotingnon-profit corporations worldwide

In2012, Manulife donated in excess of $20 million in order to over 1,000 non-profit corporations worldwide. Manulife continue to assistthe most well known, well-managed charitable corporations worldwide,such as Red-colored Cross punch, an environment intended for thehuman race, along with the USA Approach (Manulife. com, 2014). Therehas been encouragement of the little ones needing treatment, forinstance those in Okazaki, Japan Hoshi Common Clinic, through theassistance on the nonprofit corporation (Manulife. com, 2014). Theparticular “Manulife Waku Waku Room” venture that started in ‘08is one of the endeavors carried out with the Children’s wellbeingCommunity to enhance the particular treatment surroundings intendedfor little ones (Manulife. com, 2014).

Buildinga difference with all the USA Approach inside Canada

Promotingthe particular USA Approach may be probably the most efficient waysManulife aids develop stronger communities. Each of Manulife’sonce-a-year USA Approach strategy is function entirely by means ofpersonnel volunteers who arrange occasions, obtain contributionsalong with encourage their acquaintances to have included (Manulife.com, 2014). In 2012, workers from Canada offered around $4.5 million(including management and business complementing donations) for theircommunities via each of Manulife’s Canadian USA Approach strategy(Manulife. com, 2014).

Makinghappier futures intended for Boston’s youth

JohnHancock`s Martin Luther California king Jr. (MLK) Summer monthsScholars Software in the Birkenstock Boston region gives in excess of$1 million in monetary terms for regional not-for-profits in order tooffer purposeful summertime job opportunities for more than 650 teensevery year (Manulife. com, 2014). Since it is the beginning, theparticular MLK Summer months Scholars Software possesses offered over3, 000 Birkenstock Boston teens and it is considered the largest,many thorough corporate-based summertime tasks software in America(Manulife. com, 2014).

    1. INTERNATIONAL STRATEGY AND GLOBAL COMPETITION

Asia

ManulifeFinancial is a Canada-based monetary company’s collection withprominent Asian vicinity (Manulife. com, 2014). Manulife offer anextensive variety of budgeting assurance and health control productsand companies to both personal and gathering clients. Manulife havean enhanced program of submission programs such as in unwanted of54,000 contracted executors, in unwanted of 100 bank organizationsand more than 500 merchants, 100 % free providers and traders(V1.theglobeandmail.com, 2014).

Canada

Servingone in five Canadians, Manulife are a going financial companiesassociation offering a various opportunity of security, bequestarranging, funding and saving cash outcomes through a classifiedmulti-channel submission program (Manulife. com, 2014). Manulifegives retail stores answers for individuals and entrepreneurs, soldgenerally through 100 % free guides. Bunch lifestyle, wellness,disability and retirement outcomes are marketed to Canada conduitthrough specialists, representatives and independent therapists.Manulife furthermore give global worker profits control tointernational companies. Life, health and strength products, forexample, travel security, are furthermore offered through optionappropriation programs (Manulife. com, 2014). John Hancock offers anextensive opportunity of personal and family arranged security andhealth control products and companies concentrated on individuals andorganizations. David Hancock disseminates its products through amulti-channel program, such as David Hancock Economical Network, anational program of independent profession orgs over the U.S.johnhancock.com

Speculations

Manulife`sInvestment Department offers with the Company`s general reserveon-accounting report holdings and, through Manulife ResourceManagement, manages outsider belongings for institutional clients andventure finances in key markets around the globe. Manulife ResourceManagement furthermore gives funding control companies to associates`retail store clients through item offerings of Manulife and JohnHancock. The Department offers with a wide opportunity of venturessuch as start and personal ties, start and personal values,contracts, land, oil and gas, force and foundation, timberland,farmland and possession submission outcomes.

References

FinancialPost, (2014). Inside the fortress: Drama behind Manulife`s doors.Retrieved 2 August 2014, fromhttp://www.financialpost.com/story.html?id=2501883

Manulife.com,.(2014). Manulife Financial: Community Investment. Retrieved 2 August2014, fromhttp://www.manulife.com/public/about/index/0,,lang=en&ampnavId=610017,00.html

Manulife.com,.(2014). Manulife Financial: Company Overview. Retrieved 13 June 2014,fromhttp://www.manulife.com/public/about/index/0,,lang=en&ampnavId=610002,00.html

Manulife.com,.(2014). Manulife Financial: Corporate Citizenship. Retrieved 2 August2014, fromhttp://www.manulife.com/public/about/index/0,,lang=en&ampnavId=610014,00.html

Manulife.com,.(2014). Manulife Financial: Corporate Governance. Retrieved 2 August2014, fromhttp://www.manulife.com/public/about/index/0,,lang=en&ampnavId=610005,00.html

Manulife.com,.(2014). Manulife Financial: Ethical culture. Retrieved 2 August 2014,fromhttp://www.manulife.com/public/article/index/0,,lang=en&ampartId=147462&ampnavId=610007,00.html

Manulife.com,.(2014). Manulife Financial: Manulife Financial Recognized for BestOverall Corporate Governance, International, at Corporate GovernanceAwards in New York. Retrieved 2 August 2014, fromhttp://www.manulife.com/public/news/detail/0,,lang=en&ampartId=147305&ampnavId=630002,00.html

Manulife.com,.(2014). Manulife Financial: Volunteerism. Retrieved 2 August 2014,fromhttp://www.manulife.com/public/about/index/0,,lang=en&ampnavId=610021,00.html

Therecord.com,.(2014). Restructuring shakes up Manulife Financial. Retrieved 2August 2014, fromhttp://www.therecord.com/news-story/3881049-restructuring-shakes-up-manulife-financial/

V1.theglobeandmail.com,.(2014). Manulife: Global Thinking. Retrieved 2 August 2014, fromhttp://v1.theglobeandmail.com/partners/free/manulife/globalthinking/apr9_2.html

Yusufali,S. (2013). Manulife Financial Corporation. TheCanadian Encyclopedia.Retrieved 2 August 2014, fromhttp://www.thecanadianencyclopedia.ca/en/article/manulife-financial-corporation/