It is apparent how Japan has transcended into a country with an impressive economic stability. Because of its growth in trade and industry, the country has established an identity as one of the world’s sleeping giants. Among the thousands of business companies that have made a mark in Japan’s booming market, AFLAC or American Family Life Assurance Company of Columbus has made a notable history.
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AFLAC is a general business holding company which was incorporated in 1973, chiefly operating on supplemental health and life insurance. It has acquired rapid development through continuously expanding their product line by designing insurance policies that are beneficial to less-fortunate people who doesn’t have existing primary coverage on insurance. They are also focused on their distribution system of independent sales associates and insurance brokers.
They concentrate on selling their products on worksites where most of the workers that they have are either engaged or employed in small businesses. At present, there are over 50,000 licensed associates and coordinators who market their products. They operate with a mission of combining innovative strategic marketing with quality products and services at competitive prices in order to provide the best insurance value for consumers. They follow objectives in procurement.
They procure products and services that meet or exceed quality specifications at the lowest cost, they manage corporate expenditures while maximizing return on investment, they constantly strive for cost improvements and they ensure that AFLAC employees do business transactions in ethical and professional manner.
Their marketing program is designed with guiding principles; to offer quality products and services at competitive prices and use new technology to better serve their policy holders, to build better value fr their shareholders, to supply quality service for their agents and to provide an enriching and rewarding workplace for their employees.
These are the business and investment philosophy that they applied which made them successful.
“Company Overview” Aflac Japan. 10 Mar. 2009 <http://www.aflac.com/us/en/aboutaflac/aflacjapan.aspx>.
The New Georgia Encyclopedia. 10 Mar. 2009 <http://www.georgiaencyclopedia.org/nge/Multimedia.jsp?id=m-8264>.
“Japan’s Cultural History.” Japan Bulletin: 40-44.