A Negative Side Effect Of A Digital Era

2125 Words9 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…
Overcoming poor planning for future retirement is a sociological force facing CNO. Having the ability for altering the way society reacts to future financial planning is crucial within the insurance industry. CNO’s survives by providing opportunities to clients for achieving financial stability. Generational differences pose different threats within a societal aspect and CNO is continually acting within an “adaptive mode” (Hunger, 2010) by hiring employees from different generations to accommodate. Task Environment CNO displays their longevity in the insurance industry by existing for 137 years, without buyouts, bailouts, or having to change their name. 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
Open Document