The Financial Crisis of 2008 not only impacted Wall Street but also the finance and insurance sectors in Taiwan. The significance of this financial downturn was such that even one of the largest and the most time-honored ¡§A¡¨ International Group could not escape hardship. The firm in question was a recipient of U.S. financial bailout by funding by the U.S. government. Due to the need to repay the loan, the ¡§N¡¨ Taiwan Insurance Company, a subsidiary of the U.S. ¡§A¡¨ International Group faced a major threat to its very existence: complete liquidation by the ¡§A¡¨ International Group.
The parent ¡§A¡¨ International Group made the irrevocable decision to sell the ¡§N¡¨ Insurance Company, as the only means by which a portion of the bailout loan could be covered. The impact of this decision was immediately felt in Taiwan. But the sale process nearly three years and finalized as a merger with a local investment firm. Considerable organizational change occurred within the ¡§N¡¨ Insurance Company post-merger. It continued throughout the acquisitions period of the ¡§N¡¨ Insurance Company by other entities. Through in-depth interviews with different levels of employees and actual customers of the ¡§N¡¨ Insurance Company, the study analyzed how transformational leadership formed, and then actuated the organizational change which was to take place. In addition, this study offers a clear understanding of the connection between organizational change and overall performance by individual cases-by-case basis.
The ¡§N¡¨ Insurance Company faced a three-year reversal-of-fortunes during the merger period. The company experienced many crises, including a collapse of productivity, immeasurable financial losses and a loss of market share as a main insurance provider in the lucrative Taiwan market. After the eventual sale, the company¡¦s case settled down and a newly appointed CEO who came from an investment bank and lead the organizational change, announced future directions and new operational strategies. By implementing numerous plans in all key areas of the company, business production rose 283% within the subsequent six months, and regained the ¡§Top 3 Spot¡¨ in Taiwan¡¦s competitive insurance marketplace.
This study is based on the ¡§N¡¨ Insurance Company. A transformational model is presented which originated from research on related business materials and in-depth interviews. Furthermore, the leadership is examined regarding how organizational change was affected, how leadership penetrated the entire organizational structure, and how it lead to a rapid transformation resulting in substantial benefit through a singular vision. It is hoped that this study will provide some practical strategies and valuable experiences of the role of transformational management during a time of financial calamity.
| Identifer | oai:union.ndltd.org:NSYSU/oai:NSYSU:etd-0717112-124540 |
| Date | 17 July 2012 |
| Creators | Tuan, I-Chun |
| Contributors | Bih-Shiaw Jaw, Ying-Fang Huang, Yu-Ping Wang, Wan-Ching Chen |
| Publisher | NSYSU |
| Source Sets | NSYSU Electronic Thesis and Dissertation Archive |
| Language | Cholon |
| Detected Language | English |
| Type | text |
| Format | application/pdf |
| Source | http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0717112-124540 |
| Rights | user_define, Copyright information available at source archive |
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