Lincoln National Corporation SWOT Analysis
In 1905, the Lincoln National Corporation was founded which is based on the industry of insurance and asset management. The company was headquartered in the Radnor, Pennsylvania, United States and the functions of the company are controlled, executed and accessed by the president and CEO, Dennis R. Glass. Lincoln National Group is the name used for the marketing factors for LNC and also for its subsidiaries. The LNC was developed in 1968 under the law of the state of Indiana.
• The company has a very strong position attaining the loyalty of the customers in the market.
• The very strong management team is working in the company that increases efficiency in the production.
• The products and services provided by the company are very unique and up to date that increases the demand as compared to the competitors.
• The supply chain of the company is very strong as in case of providing the services to its distributors.
• The premium rates of the company are increasing and because of which commission is also improved.
• The prices of the company provided to its customers are very reasonable as compared to its competitors.
• The numbers of employees working in an organization are less and some of the experienced employees resigned.
• The startup cost regarding to the implementation of new plans and strategies are very high that affects the company’s effectiveness.
• The mortgage facility provided by the comp any is very poor because of the subprime issues in the market.
• The decrease and instability in the financial issues is the weakness as regarding the insurance policies.
• The company is often slow in the changing the environment of it as with the requirement of the market.
• The competitors of the company in the market are very strong in their reputations.
• The diversification should be made in case of the products and services so that to improve the demand from the customers.
• The improved and advanced technology be used by the company so that to have availability of paperless transactions.
• To provide new sort of services to the customers in case to grasp the attention and interest of the clients in order to generate income.
• The financial position of the company might be improved by attaining more debts in order to raise the money.
• The issue of the increasing costs and the requirement of the insurance that might create the backlash.
• The intervention of the government and their implications in the strategies of the company can decline the ratio of efficiency.
• The increasing expenses and expenditures and lowering the profit margins is an issue for the company to balance.
• Increased rate of the strong and tough competition is the major issue for the company especially in case of the insurance policies and the managerial factors.
• www.lincolnational.com, Accessed on June 7, 2012.
• (2011), Lincoln National Corporation- Company Profile and SWOT Analysis.