B201 tma 01

Write a brief account (500 words) describing how a business organisation with which you are familiar has used information in order to attempt to better understand the environment in which it exists,using the concepts and ideas you studied in Block 1. You should include in your account a detailed description of the information, why it was valuable, the way it was acquired by the organisation,how it was used, and the impact it had on the organisation.

My chosen organization is my employer, Zurich Financial Services. The firm has settled offices in 80 countries and needs to have updatedinformation regarding the regulations in place in each one of them. The company operates in 140 countries and it has licenses to be able to legally develop their activity in all of them. Zurich, asany other financial institution, has to fully comply with the regulations in place as, for example, with regard to Anti Money Laundering, data protection, acting with integrity, etc. They also haveto attend at the requirements of the financial services authorities for each area as well as the relevant financial services ombudsman.

With the above introductory facts in mind, I’ll approachthis question with a short report including the requested points to be dealt.

• What information: The client services department received some information concerning the illegal activities of one ofour brokers based in Latin America. He had been working with Zurich for over 15 years and, until that moment, every transaction made through him seemed to be all right.

• Its value for thecompany: This broker was an authorised intermediary and somehow he was representing Zurich’s products. This means that the prestigious image of the company was in risk.

• Acquisition: We used to sendcouriers every Friday to the Latin America region but we started to have problems with one of them and, therefore, we decided to send the correspondence directly to the clients instead sending it via...