Hay Company International business essay - Essay Prowess

Hay Company International business essay

Hay Company International business essay

Hay Company International business essay

Section
One: Rationale for Selecting Finland

Hay Company, from an introduction perspective, is a
renowned US firm that deals with risk management and Commercial insurance
brokerage services (Hays
Companies 2016). In the recent statistics, the company was ranked as
the 16th largest commercial insurance brokerage firm in the entire America but
the largest one in the Midwest (McGrath 2014). Further, in the context
of the services offered by the company, Hays offers professional risk
management and commercial insurance services. Analytically, these services are
said to offer very sensitive services that call for utmost professionalism, an accommodative
environment of operations and serious repercussion if inappropriate decisions
are made. Some of these services include dealing with very sensitive industries
including the aviation insurance, executive risks, Property insurance, and
surety. These are areas that involve huge funds and a wide scope of highly
valuable stakeholders. The industry in which the company operates in requires
absolute skills and high profile skills.  

Any company intending to expand its operations from a
local to global arena does so after identifying the best destination where the
operations will run effectively. Running effectively, in this case, means that
the organization will run without being affected by adverse macro-environment
issues within the economy, the legal structure, the social context of the
target market amongst other elements. The same case applies to Hays Companies.
Therefore, when it comes to making attempts to move globally in offering it
services, Hays Company has to consider a set of issues regarding the new
business environment. The section provides a rationale for selecting Finland as
the destination for investing by Hays companies with its risk management and
commercial insurance brokerage activities.         

Political and Legal Environment

From a political perspective, the country has
demonstrated stability. The leadership of the country has not been facing
challenges involving succession or interference with the policy making of the
country. From a legal perspective, the choice of Finland as the destination for
investment is influenced by a set of factors. First, the company would, with
absolute certainty, want to operate in an environment where the legal system
provides absolute protection for those who exist within its legal jurisdiction
to protect. For instance, the country’s legal system safeguards the rights to
existing and have equal and balanced opportunities in life. It goes further
ahead to assure that these promises will be fulfilled to the letter. The Finish
legal and political policy has been changed towards a more stable one after the
Strategic Action towards 2012. Remember, excellent governance manages to make
the competitive factors more real in the integrated global markets (Mullins 2007).
A firm of Hays caliber can easily operate in the country without having to fear
the nature of the legal system.

Technology and Economic Environment

Also, from a technological perspective, Finland is
said not to be doing excellently. That, from an individual perspective,
provides a platform in which Hays will exploit by providing a solution that
includes technology at its core (Radebaugh, Sullivan and Daniels 2015).
In consideration of the accommodating legal and economic system in the country,
it is very feasible that they market will appreciate innovation that is
displayed by the company. From an economic perspective, the country market is
said to be highly productive. Therefore, the company is first assured that if
it provides attractive and desirable services, it will have a long-term
clientele in the country without having to think beyond outside Finland. The
country is comprised of intensive investments in the financial, the transport
and the manufacturing industries, most of which have contributed to the
reputable economic status of the country. The balanced level of taxation will
certainly facilitate easier survival of the company especially in the
preliminary years when the company will not have established itself fully in
the market.

Social Environment

The country’s social factors have also influenced the
decision to select Finland as the select destination market for Hays. First,
the level of education in the country is ranked the best in the world. That
implies that the employees will be equally highly productive. The company does
not have to worry about importing a qualified task force to meet its
expectations of quality employees (Dowling 2008). Recent statistics imply
that the literacy in the country is approximately 100 percent. A merger of
these factors provides a rational reason for Hays to invest in Finland instead
of any of the other two countries. A country with a sober legal system, growing
technology system, a stable economic system and a welcoming social environment
is an excellent destination (Radebaugh,
Sullivan and Daniels 2015).  

Section
Two: The Opportunities and Threats in the Industrial Environment in Finland

From a professional point of understanding, before
making an attempt to invest in any designated market across the world, it is
imperative to ensure that one conducts a comparative analysis of the
opportunities and the threats that exist in that markets as far as the
industrial environment is concerned. Attempts to disregard this could result in
making illusion decisions that will certainly lead to absolute failure of the
company. The same case applies to Hays Company and its attempts to invest in
Finland. A case where the country creates more opportunities that threats to
any player in the industry improves the probability of investing safely within
that environment (Grundy
2006).
The section intends to use the Five Forces Model to evaluate and analyze the opportunities
and the threats that are likely to exist in the Finland market with regards to
the firm’s industrial arena.     

Supplier power

Initially, it is imperative to denote that the company
mainly focuses on issues such as employee benefits, Risk management and
commercial insurance, and professional consultancy in a wide variety of field
including the legal life of an individual or corporation. Such services are in
high demand especially in a country such as Finland that has a large task force
(Porter 1990).
Despite the fact that the country has other firms that may be playing a similar
role, the stable level of the economy provides that there are numerous players
in the financial, manufacturing and even the transport sectors that would be in
dire need for simila

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