Strategic Plan for James Raynor Ins, Agency of State Farm Assignment

Strategic Plan for James Raynor Ins, Agency of State Farm - Assignment Example The company has several employees and 18000 state farm agents who work together to serve nearly 80 million policy holders (3State Farm, 2013). In this regard, James Raynor is one of the major contributors as the agent of the State Farm Mutual Automobile Insurance Company. He provides rapid and risk-free quotes for the various insurances to serve the people by providing financial assistance. He has his own corporate State Farm Agency in Orange City, Florida (4State Farm, 2013). The company profile of State Farm reveals that the mission of the farm is to assist individuals to manage risks of their everyday life, in the occurrence of the unexpected events along with comprehending the dreams of the people. The company offers various services to help the finances of the people by investing in mutual funds and various insurances. The State Farm has been awarded as the top employer of the military veterans and is trusted as a reliable provider of services for the people of the United States and Canada (3State Farm, 2013). The key issue faced by the State Farm and the agents include the fact that there is severe competition that have recently emerged from the local companies in order to satisfy the clients. Countless policies offered by different companies for health and accidental benefits with diverse features available in the market could be a critical issue in both short and long term (3State Farm, 2013). Environment Company Environment The Annual report of the State Farm demonstrates the financial condition of the farm to be strong and profitable as per the data of 2012. The net income of the farm has exhibited an increase in the level of profit as the income in 2011 was US$ 1,088 as compared to US$1525 million Dollars in 2012. Due to the growth of the company, an expectation has materialized regarding the efficient running of the business with the valuable contribution of agents (1State Farm, 2012). Stakeholders Edward B. Rust Jr is the Chairman and the Chief Exe cutive Officer (CEO) of the State Farm and is also the member of boards of directors of McGraw Hill. The farm has several key members in the board of directors such as Gerald M. Czarneck and Dan E. Arvizu. Even though James Raynor is not the member of the board, he is still one of the major contributors in the profit of the farm (2State Farm, 2013). Strength of James Raynor Ins. State Farm Agency Strengths Communication: The key strength of James Raynor as an insurance agent is his communication skills. He possesses the capability of understanding the needs of the clients and subsequently he offers the required policies which would benefit the clients and the agency. He has a great convincing power as he can easily change the prospects into his clients. Work Ethics: James Raynor follows a rigid and methodical work ethic and has maintained integrity in his profession. He is loyal, honest and dedicated to his work and his policyholders. He is self-motivated and has over the years supp orted the people to make wise decisions regarding their investments in insurance or mutual funds. Decision Making: He possesses a strong knowledge in maintaining the finances and helping the clients in taking the correct measures, which leads to the success of the agency. He has displayed dedication, work ethic and moral responsibility