Leadership Challenges In Analytics

We will continue to be the leader in the insurance industry and we will become a leader in the financial services arena. Our customers' needs, will determine our path. Our values will guide us”. It is in my belief that the vision of State Farm helps to drive change by how we interrelate with our consumers and how we interrelate with one another in support of our consumers. Every day we experience thousands of occasions to unite with consumers. In all of those collaborations, regardless of the approach of contact, we seek to provide constantly remarkable encounters. Our consumers express to us that they desire to be treated in an individualized, compassionate, and humble manner. That is essential to us, and it is the reason we embrace the performances that make us extraordinary. All State Farm employees have a concern in joining collectively to create extraordinary encounters for our consumers. It is an exhibition of our goal, vision, and

Choosing a change model can be difficult for an organization. The company must ensure that the model it chooses will help them make the smoothest transition possible for everyone involved. The chosen change model must also help the company reach its goal within the time frame the company needs to have changes made.

Deutsche Allgemeinversicherung (DAV) is one of the world’s largest insurance companies. The success of the company has been contributed to its product offerings and “an excellent group of insurance managers” (case page 2). The company provides superior “traditional insurance management” and excellent customer service. However, the company began to face stiff competition not only from larger competitors but also from smaller insurance firms that are able to provide customized service to each individual client. To keep its current position in the market DAV has decided to concentrate on quality of customer service which it sees as a core competency. The

Ironically, in my current position as a Payroll Specialist, I encounter change almost every day. Payroll processing always involves change and updates, which requires the staff to use whatever effective tools available to ensure that changes are continuously moving the team toward new innovations and implementations. Sometimes there is resistance, but for the most part, once the task are identified and the staff fully understand their roles, we begin with a conversation and work around the issues or concerns. There are instances when plans fail, or the outcome is not what we expected, but we come together as a team and analyze what went wrong and how come up with ideas as how we can we make the process better going forward. Most of the change

Change is inevitable. Changing is not always welcomed but it is necessary for organizations to maintain their place in the world. Successful organizations thrive because they have a vision, a mission

Stay in closer touch with all the customers—with new technology to quickly tailor communications, marketing promotions and operations in ways that build strong, long-term

Change in an organization can be and usually is difficult for various reasons. Much of the difficulty is in the approach used to initiate change and the willingness to stay engaged and stamina to sustain change through to the end. Organizations can choose to lead by recognizing and implementing change, follow in the shadow of organizations leading the market, or get out of the way by standing still and eventually going under. With this said; if change was easily done and successful for every organization there would be no need for change management specialists and years

“It is significant, and I do believe it is coming from consumer desire to have choices and more balance,” The two articles agree that the success of any business is highly dependent on customer relations. Organizations need to accord their workers the maximum support they need

Week 3, the lecture on Managing Change describes organizational changes that occur when a company makes a shift from its current state to some preferred future state. Managing organizational change is the process of planning and implementing change in organizations in such a way as to decrease employee resistance and cost to the organization while concurrently expanding the effectiveness of the change effort. Today's business environment requires companies to undergo changes almost constantly if they are to remain competitive. Students of organizational change identify areas of change in order to analyze them. A manager trying to implement a change, no matter how small, should expect to encounter some resistance from within the organization.

Change has become necessary for every organisation there is. World is moving rapidly towards better technologies, efficient systems, new techniques, compact profits, different friendlier environments and organisations are always in the race to reach new heights by thriving effectively in this competitive environment (Kotter, 1996).

As a large, multi-national financial institution, BAC / ML is at the forefront of the analytical revolution. In an interview with PriceWaterhouseCoopers (PWC) , Brian Moynihan discusses how technology can improve operational efficiency. This is a point that Davenport & Harris make in “Competing on Analytics” - that in today’s market, efficient and effective execution are one of the strategies that can pay off in separating a company from its competition. Mr. Moynihan further speaks to how big data analysis is one of the tools that can provide the intelligence needed to achieve some of their strategic goals. As one of the world’s largest banks, BAC/ML certainly has the funds and resources to bring this intelligence to bear - provided that

Changing situations throughout the world affect all organizations in business today. Therefore, most organizations acknowledge the need to experience change and transformation in order to survive. The key challenges companies face are due to the advancements in technology, the social environment caused by globalization, the pace of competition, and the demands regarding customer expectations. It is difficult to overcome the obstacles involved with change despite all the articles, books, and publications devoted to the topic. People are naturally resistant to fundamental changes and often intimidated by the process; the old traditional patterns and methods are no longer effective.

“Competing on Analytics” defines an analytical competitor “as an organization that uses analytics extensively and systematically to outthink and out execute the competition.”(1) Business analytics is a new way for companies to separate themselves from their competitors. I recently completed an internship at the firm PricewaterhouseCoopers (PwC) and will work there full-time upon completion of this program. PwC uses analytics to help solve complex business issues and to identify opportunities across different industries. PwC is the largest professional service company in the world and is part of the Big Four accounting firms. PwC operates in over 157 countries with more than 750 offices throughout the world.(2) PwC is structured into three service lines, which are Assurance, Advisory and Tax. The assurance practice audits almost 30% of the global fortune 500 companies.(2) The advisory practice is mainly consulting activities that cover strategy, cyber security and privacy, human resources, deals and forensics. (2) These three practices generated $35.4 billion in revenue in 2015. (2)

Resistance to change is one of the biggest barriers that organizations face in their efforts to implement organizational change. This greatly hampers the uptake of new technologies, new ways of doing work and even progress of organizations. Reviewing on this, the British Journal of

For any business in the rapidly evolving world of business, planning and implementing successful organizational change is indispensable. Essentially, organizational change refers to a process whereby an organization strives to optimize performance in order to achieve its ideal state characterized by high performance and profitability (Côté & Mayhew, 2014). Any business would be more likely to lose its competitive edge, as well as fail to meet the demands of its loyal consumers if it doesn’t plan and implement change. Weiss (2012) emphasizes that all organizations ought to embrace change, and it’s imperative to note that successful organizational change doesn’t involve simple process of adjustments; instead it requires appropriate change management capabilities.