Hovey Insurance & Financial Services Research Paper

Hovey Insurance & Financial Services - Research Paper Example If these fees are unsuccessful, the organization cannot successfully move the project to the completion stage. The dynamism with which the business environment is changing with constrains all organizations in business. In the current business environment, few organizations have surplus resources. If anything, they struggle with the limited resources and tight budgets to realize their objectives. Hovey Insurance & Financial Services Company, being part of this environment, has to contend with the high competition levels and low budgets. This at times bends the organization to opt for the lowest bidder while seeking the right people to deal with in the development process. Low bidders mean that the organization cannot afford the best brains, the most knowledgeable and the most experienced specialists in the market. Subsequently, the quality of products may not meet the expectations of the planners while it may take a longer time before completing. Lack of information technology is yet another problem facing the company. In the current business environment, technology plays a crucial role in the success of the business. Currently, most of the organizations have computerized their operations to suit the global demands and quality requirements of goods and products. For high quality products and services, companies have to give priority to technological investments. Companies operate on a global competitive platform, where customers have unlimited choices of goods and services. Increasingly, more organizations are investing in technology to have the upper hand in the market. Most aim at having long-term benefits from technological investment. Although the initial capital investment by a company in technology is high, there are numerous long-term benefits accrued. Companies save on time taken in producing goods while service industry firms gain more from customer loyalty resultant from high quality services. These are the missing factors in Hovey Insurance & Financia l Services since the company has low technological investment capacity. While developing the company’s website, the company faced a myriad of problems. There was an acute shortage of technology in the country during the developmental stages of the website. This poses even a bigger problem to Hovey Insurance & Financial Services as monitoring of the trends and the traffic of people visiting the site will be a problem. This might mean additional costs to the firm as it may frequently need to outsource these services to an external provider. This poses a dual problem to the organization. On one hand, the organization suffers the problem of secrecy and autonomy as it has to allow inside information to the public. This could have devastating effects on the organization as the contracted person may decide to trade the information with the organization’s competitors. On the other hand, the quality of services provided may be compromising against the high costs charged by the provider. This problem even gets worse when the organization factors in its constrained budget. Time is essential in completing high quality work or when providing high quality services to the customers. While developing a project, the planners and implementers allow enough time to plan the project, get it on its feet and help it start running. It also allows for any changes whenever a problem arises in the implementation