Florida Blue Strategic Analysis

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Strategic Analysis Florida Blue Word Count: 4,350 A. Executive Summary In this strategic analysis we will be analyzing Florida Blue’s current operations to provide strategic recommendations that will leverage their strengths, nullify their weaknesses and allow them to gain market share among Generation Y in the state of Florida. According to our industry analysis, the health insurance industry has high barriers to entry, very few substitutes, high competition and can be very lucrative. For companies already in the industry, the industry can be very attractive and there are big opportunities to make a profit if they can keep ahead of competition. Our analysis shows that the power of suppliers is balanced out by the lack of power of buyers. Florida Blue is one of the oldest and largest health insurance companies in Florida. Our client is a nonprofit and has a history of community involvement and the desire to educate their customers. Florida Blue tends to be more customer focused than profit focused. Florida Blue currently provides health insurance and services to over 4 million members in Florida. They provide a variety of coverage options to better serve their customers as individuals as opposed to simple sources of income. In addition, they also provide retail centers that allow access to personal customer service. Florida Blue adds value through its operations by enhancing and developing data and revenue management tools to improve administrative efficiencies. Florida Blue is the overall innovation leader in the industry and exemplifies corporate social responsibility. In most cases, our client is effective in marketing and operations, but they have struggled to draw in customers from Generation Y. This is possibly because there is insufficient brand awareness in this demographic. Our client’s strengths in order of importance are

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