Application of Management Model in Vietnamese Insurance Enterprises

Soft elements are a group of four elements of McKinsey's corporate governance model. Applying a management model to closely link these factors helps businesses improve operational efficiency. Currently, Vietnamese insurers have not focused on applying corporate governance models, including McKinsey. With 168 valid surveys, the research team determined the impact of the four components Shared values, Style, Staff, and Skills on the independent variable of soft factor application. From the research results, the research team has proposed several solutions to help improve the ability to apply soft elements such as improving the Shared values of businesses; business leaders make necessary and appropriate changes to improve the performance of the business or Staff in the enterprise are evaluated and arranged to work following professional capacity.