QUESTION #$1(10$ Points$)$

Read the following mini$-$case and answer the corresponding question$($s$).$

Homeowners Insurance Mutual Company $($HIMCO$)$ is a small insurance brokerage with $25$ employees and about $5,000$ clients. The company sells a variety of homeowners and automobile insurance packages and manages the processing of claims against the insurance sold. Some employees sell insurance $($both in clients' homes and in the office$)$; some employee's process claims; some employees inspect insured damages; other employees are responsible for supervision or clerical support of the business. With the exception of the salespeople who receive a base pay and commissions on their sales, the rest of the employees are paid based on their positions and seniority in the company.

The owner of HIMCO retired and sold the business to one of the managers, John Thomas. John had a BA in business and had been in the insurance business for $10$ years. John wanted to make some changes in the business operations when he took over. $50,$ in addition to continuing his customer service and administrative duties, he took on the task of implementing a performance management system. John scheduled several retreats during which all of the employees of the agency recommended company goals and a business plan. During the retreats, John led discussions and facilitated projects meant to result in the basis for the company goals and business plan. After the retreats were held, he published the following mission statement in the company brochures:

HIMCO serves the families of this state by making sure that their assets are protected. We offer comprehensive and inexpensive Auto and Home insurance packages, including preferred auto and homeowner rates. We continuously search for the best rates and the best insurance policies to make certain that we are the leader in providing comprehensive and affordable insurance to the families of this state. Protection of our clients' assets is our primary concern.

Critically evaluate HIMCO's mission statement using the following evaluation framework by stating whether the condition was met $($Yes or No$).$ Provide evidence to support your evaluation.

Basic product$/$service to be offered $($does what?$)$

Primary markets or customer groups to be served $($to whom?$)$

Unique benefits and advantages of products$/$services $($with what benefits?$)$

Technology to be used in production or delivery

Fundamental concern for survival through growth and profitability

Managerial philosophy of the organization

Public image sought by the organization

Self$-$concept of business adopted by employees and stockholders