- Title
- The influence of coaching on an insurance company productivity during VUCA (Volatile, Uncertainty, Complex and Ambiguity) conditions
- Creator
- Kruger, Mark
- Subject
- Executive coaching
- Subject
- Executive ability
- Subject
- Success in business
- Date Issued
- 2024-12
- Date
- 2024-12
- Type
- Master's theses
- Type
- text
- Identifier
- http://hdl.handle.net/10948/70198
- Identifier
- vital:78310
- Description
- Coaching is becoming a more strategic tool for insurance businesses to increase productivity and efficiently handle problems in the volatile, uncertain, complex, and ambiguous (VUCA) business environment of today. Information from prior studies and current data, this paper investigates the effect of coaching on insurance business productivity in VUCA environments. Qualitative research methodology was applied to collect qualitative data in this study as well as the participant views and opinions from their environment. Additionally, this method allowed more flexibility in terms of data collection and participant interaction. In insurance companies dealing with VUCA circumstances, coaching - which is acknowledged as a potent developmental intervention - plays a critical role in promoting effective leadership. By providing personalised guidance and feedback, coaching equips leaders with the adaptive skills necessary to make informed decisions in rapidly changing market landscapes. This improves strategic agility and gives managers the ability to successfully manage risks and seize new opportunities. Additionally, coaching fosters a culture of constant creativity and learning, which greatly increases organisational resilience. Employees improve their ability to solve problems and feel more in control of their own learning through organised coaching sessions. This enhances not only individual performance but also fosters departmental collaboration and cohesive teamwork, which are all critical for handling the intricate problems that the business sector presents. Research results highlight how coaching can have a revolutionary effect on staff retention and engagement in volatile times. Coaching creates a sense of purpose and dedication in workers by coordinating personal goals with company objectives, which raises worker productivity. A healthy corporate culture with open communication, trust, and shared accountability, is further helped by coaching interventions. These qualities are essential for maintaining high performance in the face of outside challenges. Within insurance firms, well-executed coaching initiatives support succession planning and employee development as well. Coaching promotes organisational stability during uncertain times and helps maintain leadership continuity by identifying and developing high-potential workers. This proactive strategy protects long-term corporate sustainability by strengthening the management team and preparing upcoming managers to navigate VUCA situations. The practical implications highlight how insurance companies must strategically prioritise investing in coaching as a core skill. Through the integration of coaching into their organisational culture, insurance companies may develop strong staff that can thrive in volatile and uncertain times. Proactive coaching interventions also help businesses stay ahead of the competition in the ever-changing insurance industry by helping them to innovate ahead of time and anticipate market trends. To summarise, the factors above emphasise the important influence of coaching on insurance company productivity in volatile and uncertain times, by combining the most recent research with practical data. Coaching appears as a strategic enabler for managing uncertainty and generating long-term success in insurance companies, through strengthening leadership efficacy, building organisational resilience, and encouraging a culture of continuous improvement.
- Description
- Thesis (MBA) -- Faculty of Business and Economic Sciences, Business School, 2024
- Format
- computer
- Format
- online resource
- Format
- application/pdf
- Format
- 1 online resource (151 pages)
- Format
- Publisher
- Nelson Mandela University
- Publisher
- Faculty of Business and Economic Sciences
- Language
- English
- Rights
- Nelson Mandela University
- Rights
- All Rights Reserved
- Rights
- Open Access
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- Downloads: 1
Collections
NMU Business School
| Thumbnail | File | Description | Size | Format | |||
|---|---|---|---|---|---|---|---|
| View Details Download | SOURCE1 | KRUGER, M.pdf | 1 MB | Adobe Acrobat PDF | View Details Download |