UofP - MBA580 - Individual Assignment - Week Three - 09-16-06

UofP - MBA580 - Individual Assignment - Week Three - 09-16-06

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Environmental Analysis 1 Environmental Scan and Economic Analysis: Stewart Title Company Robert Sikes, MBA580 University of Phoenix September 16, 2006
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Environmental Analysis 2 Abstract The design of a business strategy is based on the conviction that a firm is able to anticipate future business conditions will improve its performance and profitability (Pearce and Robinson, 2005, p. 82). This paper will perform an environmental scan and economic analysis of Stewart Title tracking and planning changes for its remote, industry, and operating environments, including identification of long-term objectives that align with Stewart Title’s vision, mission, and values statements.
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Environmental Analysis 3 Environmental Scan and Economic Analysis: Stewart Title Company Business Summary: Stewart Title Company Stewart Title Company (Stewart)—child of parent company Stewart Information Services Corporation (STC)—is a real estate information and transaction management company that provides title insurance and related services. At the end of the second quarter 2006, the company was issuing policies through more than 9,000 issuing locations, on homes and other real property located in all 50 states, the District of Columbia, and several foreign countries. Stewart also offers computer-related services and information, as well as mapping products and geographic information systems, to government and private entities, both domestic and foreign (Business, 2006). The title insurance segment contributed 82 percent of 2005 pretax income—the real estate information segment provided the remaining 18 percent. About 47 percent of title revenues came from four states: California, Texas, Florida, and New York (Hoovers, 2006). Strategic Objectives and Goals As part of its strategic management, Stewart creates a culture of challenge by encouraging management team members and employees to value open and constructive criticism (Stewart, 2006). With keen focus on e-solutions and e-closings, Stewart developed (1) SureClose ® online transaction management system, (2) the eClosingRoom™ electronic closing platform (developed by Stewart and Silanis Technology), (3) the AIM ® for Windows ® title production system, and (4) the TitleSearch ® title plant, document imaging and search analysis systems (Stewart, 2006). These proprietary services exemplified Stewart’s strategic goal to increase market share, which required a strong financial and corporate commitment (Pearce and Robinson, 2005, p. 110).
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Environmental Analysis 4 Stewart builds flexibility and options into its strategic objectives and goals to allow the company to scale up (retrench) as uncertainties are resolved (Roxburgh, 2003). Beinhocker and Kaplan state that success is more modestly measured by how well strategic review helps management forge a common understanding of its environment, challenges, opportunities, and economics (2002, p. 48). Stewart’s strategic management theme of challenge, value, and opportunities allows for real-time strategic decision making. External Environment
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UofP - MBA580 - Individual Assignment - Week Three - 09-16-06

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