UofP - MBA580 - Individual Assignment - Strategic Plan - Week Six - 10-07-06

UofP - MBA580 - Individual Assignment - Strategic Plan - Week Six - 10-07-06

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Unformatted text preview: Strategic Plan 1 Strategic Plan: Stewart Title Company Robert Sikes, MBA580 University of Phoenix October 7, 2006 Strategic Plan 2 Executive Summary “Enhancing the Real Estate Transaction Process” provides a clear and concise message that Stewart Title Company provides “Magnificent Service by Inspired Professionals.” Stewart Title Company began in Galveston, Texas, in 1893 when Maco Stewart, a young Galveston attorney, purchased the Gulf City Abstract Company. Maco Stewart continued to issue abstracts through the Stewart Law & Land Title Office until 1905, when he and Minor Stewart offered the first title insurance in Texas in the form of an indemnity against loss due to title claims. In 1970, the holding company Stewart Information Services Corporation was formed, setting the stage to expand Stewart’s operations into the broader arena of real estate information (REI). The company began to trade publicly in 1972. One year later, a new corporate office was built in Houston. By 1981, Stewart policies were being issued through more than 1,000 issuing offices in 38 states. Six years later, that number would grow to more than 2,000 offices throughout the United States. In 1986, Stewart was named one of the 101 best performing companies in the U.S., with revenues of $178 million. In 1994, Stewart Information Services was listed on the New York Stock Exchange under ticker symbol STC, and it was the first stock quoted on the New York Exchange on the first day of trading in 1995. In 1999, Carloss’ and Stewart Sr.’s sons, Malcolm S. Morris and Stewart Morris, Jr. were elected co-CEOs of Stewart Information Services Corporation. Malcolm and Stewart Jr. both had held significant positions in the company since 1975, and had been in charge of the company’s core businesses since 1991. Stewart was included in FORTUNE magazine’s list of the 100 fastest growing companies in 1998 and again in 1999. In October 2001, Stewart was added to the Standard & Poor’s Strategic Plan 3 SmallCap 600. In 2002, Stewart entered the FORTUNE 1000 list at 941, moving up to 732 on the 2003 list. Also in 1999, 2002, 2003 and 2004, Stewart made Forbes Platinum 400 list of America’s best-performing big companies. Today, Stewart Information Services Corporation is a technology driven, strategically competitive, global real estate information company, providing title insurance and related information services through more than 9,000 issuing locations and over 9,000 employees in the United States and around the world. Stewart has over 5,000 shareholders and as of October 5, 2006, the closing stock price was $35.44 per share. Stewart continually applies new technology to achieve its mission of enhancing the real estate transaction process. The end result is a magnificent experience for its customers and increased value for its shareholders. With the prognosis for continued strong real estate sales and lending volumes, Stewart’s investment in developing leading technology is seen as key to its...
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This note was uploaded on 06/12/2011 for the course ETHICS mba taught by Professor Wilkes during the Spring '05 term at University of Phoenix.

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UofP - MBA580 - Individual Assignment - Strategic Plan - Week Six - 10-07-06

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