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Some Considerations regarding Strategy and Strategic Management in Romanian Insurance Sector

Author

Listed:
  • Cristina PROTOPOPESCU

    (“Artifex” University of Bucharest)

  • Anca-Mihaela TEAU

    (“Artifex” University of Bucharest)

  • Sorin Gabriel GRESOI

    (“Artifex” University of Bucharest)

Abstract

Over the last decade, the external environment of insurance sector had significantly changed, becoming very instable and complex. In these circumstances, we believe that the proper managerial approach, not only for anticipating the future problems, opportunities and threats but also to improve profitability, is the strategic management. In this paper we present the concept of strategy and the differences between strategy and strategic management. We also present a strategic management model for insurance companies, based on a few important stages: substantion of the strategic management model, development and implementation of the strategic management model and evaluation and control of the performances of the strategic management model. Based on „Strategic management” book, written by Ion Popa, this model is adapted for the insurance companies operating on our local insurance market.

Suggested Citation

  • Cristina PROTOPOPESCU & Anca-Mihaela TEAU & Sorin Gabriel GRESOI, 2012. "Some Considerations regarding Strategy and Strategic Management in Romanian Insurance Sector," Romanian Statistical Review Supplement, Romanian Statistical Review, vol. 60(4), pages 64-67, November.
  • Handle: RePEc:rsr:supplm:v:60:y:2012:i:4:p:64-67
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    More about this item

    Keywords

    strategy; strategic management; insurance company; performance;

    JEL classification:

    • L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure

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