A Negative Side Effect Of A Digital Era

2125 Words Jun 1st, 2016 9 Pages
Societal Environment Economic forces present opportunities for CNO when operating during high unemployment rates. It is beneficial to CNO for having a larger pool of candidates to select future employees from, but also increases their competitors’ selection. CNO’s earnings have potentially detrimental effects from inflation due to individuals not being able to afford the services offered. Therefore, CNO needs to ensure the continual offering of competitive rates within the insurance industry. Technological forces continually affect CNO by forcing innovations for allowing improved communication. Improving communication will ensure faster response times from the company providing superior experiences to the customers. CNO is …show more content…
Operating from a “competitive strategy”, (Hunger, 2010, p. 78) is how CNO chooses to exist in the insurance industry. Longevity within a company generates trust for the organization and their clientele. CNO competitors offer similar product lines, but their clients are highly satisfied with the focus CNO places on customer service. Furthermore, by creating a healthy working relationship with clients, CNO ensures customization of products to each individual, instead of a cookie cutter one size fits all product.
Summary of External Factors (EFAS Table) CNO shows their dedication to success by operating with an “adaptive mode” (Hunger, 2010, p. 11) mindset. CNO shows their desire to overcome obstacles while having the ability to learn and adapt to forces affecting the organization when they offer new innovative policies. Furthermore, CNO Financial Group ranked 56 out of the top 100 and chosen from roughly 800 participating businesses for its dedication to employee health and excellent company wellness programs and practices (CNO Financial Group Named, 2015). CNO’s dedication to their employees ensures the ability to conquer external factors posing threats against the company.
Internal Environment: Strengths and Weaknesses (SWOT)
Corporate Structure The decision-making authority centers on CNO Financial as a whole and not individual units. CNO operates with
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