Faculty Advisor(s): Audiences Business Identity: venire of Directors, GEICO Executive Summary In response to changing fabrication practices, ethical solicitudes, financial questions, and billion dollar lawsuits, GEICO has contracted Macklin Consulting Inc. to die and make recommendations for improvements to its authentic policy regarding the use of Non-OEM (aftermarket) parts. After calculated research and analysis of the data, we have found that GEICOs concern regarding its Non-OEM policy is warranted. In addition to breaching GEICOs operating principles, the current Non-OEM policy is lowering GEICOs customer retention rate, exposing the confederacy to potential legal and financial liability, and damaging its reputation. GEICO has committed itself to, operational with uncompromising integrity.
Due to the questions regarding the quality of Non-OEM parts and the fact that policyholders ar generally unaware of the current non-disclosure policy, GEICO is not living up to its self-prescribed operating principles. That failure of ethics may be cost the company a considerable number of policyholders. Last year, 1.5 gazillion people left GEICO for other insurers. That loss of customers has had detrimental cause on GEICOs retention rate and reputation. The previous hug drug has been host to numerous and extraordinarily costly lawsuits as well. The insurance sought and won in those lawsuits range from tens of millions to billions of dollars. In dress to rise above the tide of litigation and ensuing politics regulation, GEICO must adopt a practice that protects its financial future, satisfies its committal to itself and its policyholders, and provides a...If you want to get a full essay, order it on our website: Orderessay
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