The Co-operators is a brand that easily distinguishes itself from all the other brands in the insurance industry. The major challenge that the Co-operators faces are on how to determine the features of their brand which are essential to the target market and also exploring better ways to communicate the brand to the customers (Urde, 2013). The problem lies with the management since there is lack of a recognized framework which is essential in identifying a corporate brand and also to align its various features so that they can comprehensively be an identity. A brand is a way a company or organization is perceived by the users or those who experience it. A brand is the feeling that a business evokes to the public. The most valuable asset for any particular company is a brand. The paper aims to apply the Corporate Brand Identity Matrix (CBIM) to the Cooperative brand image and identity.
Co-operators operates with the primary aim of providing financial security for Canadian and all other global communities. The priority of the Co-operators insurance company lies mainly on the consumers more than on the maximization of profits. The decision made by the co-operators, especially on the financial services is determined by the total value which it will create to the members, community sand clients more than on stakeholders and maximizing profits. The Co-operators Insurance is also focused towards growth and profitability to serve a broader market and innovate new ideas to continue meeting the changing needs in all the global markets. The profit pursued by the company, in the end, benefits the community and the people served (Urde, 2013). The value created by the insurance company is an advantage to the clients, members and the community as a whole. The strength of the insurance company results in the long-term benefits of the community served by the company. The Co-operator identify ensures that the company is the frontline while serving the community and also while enhancing the unmet needs of the member organizations. The Co-operators establishes, strengthens and protects their value for the cooperative sector and the members through championing the co-operation with the other cooperatives in sharing knowledge and resources with financial support (Voinea, 2018). The Co-operators value aims to assist the co-ops in thriving and creating sustainable and resilient societies. The Co-operators also creates value and safeguards for the communities and clients by addressing all the issues which are affecting the financial security for the Canadians. Finally, value is designed to make the world a better place through investing the profits in establishing sustainable and resilient communities.
The Co-operators intend to create a positive relationship while providing trusted advice to assist members and the community with financial security (Voinea, 2018). The gap with their relationship is that the Co-operators does not offer the lowest-prices, which can be advantageous to the needy community. In building a positive relationship with the community that Co-operators serve, they should be joint customer participation in decision making while striving to implement specific objectives. Involving the members and the community in decision making improves on the performance of the insurance company by sharing of ideas important during execution (Urde, 2013). The Urde model is useful in informing the Co-operators on how it can improve on its relationship with not only the domestic cooperatives but also the global Cooperatives.
The personality for the Co-operators is regarded as open and caring. The insurance company ensures that the customers can obtain the right insurance for their financial needs, and usually a reassurance is provided to those who experience a loss. Gender diversity is given major attention from the Co-operators (Voinea, 2018). Any form of gender discrimination is violated by the set of rules and regulations for the insurance company. Hence, both men and women are equally opportunistic for every rank in the cooperative. The gap identified is on generational diversity where certain employees serve for a longer time in the company. Serving for a longer term for the company interferes with economic, social and environmental products marketing. Product development is also inhibited due to lack of ideas which can be used for innovation and growth. Adopting the diversity of employees for every generation through recruiting new staff will create a dynamic environment where innovation is possible, and product development is given a lot of priority (Urde, 2013). Women are denied specific opportunities despite the efforts of the company to resolve issues on gender disparity. The proportion of women in the company is less as compared to men. The Urde model will be used by the Co-operators insurance company to understand what they need to do to balance employees without discrimination on gender or generation. New ideas will be incorporated during the implementation of the objectives while striving to provide sustainable and resilient services to the community.
The core value for Co-operators insurance is to care for the financial needs of the community and members through promoting a good relationship. Creating resilience for the community is given priority by the Co-operators insurance (Voinea, 2018). The gap identified is that despite the efforts to adopt the core attributes of the brand such as helpful, cooperative, hardworking, honest, and trustworthy and caring the company still faces a shortcoming in inclusiveness while leading the technology required for productivity to create resilient communities. Any organization cannot only focus on caring as the core value, but this should be accompanied by the strategies to be used to care for the clients (Urde, 2013). The Urde model is essential in identifying the areas of improvement in terms of technology, passion and inclusiveness.
The Co-operators enjoys the highest brand identity in Canada since, through their communication, they focus mainly on family values of caring for one another. The gap is that the Co-operators cannot be able to leverage its logo to make it highly recognizable at a distance (Travis, 2018). Therefore spotting the insurance company at a distance in all media channels is not possible. The Co-operators should introduce an industrial design with a graphic style, which will make it be recognized at a distance (Voinea, 2018). The Urde model is essential since it can be used by the Co-operators to apply different graphic styles to the Co-operators name and logo.
Mission and Vision
The main objective of the Co-operators insurance is to provide financial security to community and families to establish resilient communities. In creating resilient communities, Co-operators has failed to improve its performance by attracting a pool of talents of the young talented generation (Peattie, 2015). The company should act responsibly and encourage innovation while enhancing generational diversity. The Urde model presents the Co-operators with the ways to align the mission and vision with the performance of the cooperative.
The Co-operators encourages a respectful and collaborative culture intending to increase the participation of the employees in decision making. Collaborative culture limits the challenging and sharing of ideas, and this can contribute to the ideas becoming irrelevant to the customers. When a culture where employees can challenge one another is developed, ideas important for innovation are easily shared (Bashin, 2018). The Urde model promotes questioning the existing assumptions to improve performance and introduce new measures. A culture should be challenged to enable the application of new ideas in the management of a cooperative such as Co-operators insurance.
The Co-operators strive to align the modernization of products with the evolving needs of the customers to grow in profits and capture a larger market share. The company profoundly establishes a more resilient and sustainable Canada and other global communities by providing improved caring for clients while providing financial security. The evident gap is that the Co-operators does not align their service with the present technology. The market share is increasing, but they do not develop new ways to deal with the changing needs of the community they serve in Canada and globally (Balmer, & Powell, 2011). As an insurance company which strives to compete globally, the Co-operators should observe the technology and project management compressively. The Urde model plays a significant role in trough categorizing the competencies, which makes the Co-operators unique in the market it serves. The model also proposes certain aspects of management and development which the company should prioritize while caring for the financial security of the members and communities they serve.
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