EDUC 6105 Presentation

• 1. Organization Profile:Northwestern Mutual Financial Network
  Jackie M. Pelegrin
  December 20, 2009
  

2. Topics Overview
History
Structure and Culture
Change Process
Actions of Leadership
Effectiveness of the Change Process
Reflection on Innovation and Change
3. History
Company was founded by John Johnston in 1857
First Office was located in Janesville, Wisconsin
Provided life insurance services
Paid first claims to clients right before the Civil War
Known as the Quiet Company
Total U.S. Network Offices: 350
4. Structure and Culture
Structure
All of the Network Offices are independent
The Agents in each office manage their own client base, along with an assistant
Each Network Office reports to the Home Office
Culture
Professional and Structured
Company beliefs about their clients
Importance of financial strength
Policyowners Examing Committee (1907-Present)
5. Structure and Culture Cont.
Current Policyowners Examing Committee Members (2009)
6. Change Process
Change occurred four months ago
Assistants who work with the agents are now classified as staff members
This gives the assistants the ability to assist any of the agents in the Network Offices
The change allows the agents to focus on marketing the business and recruiting new clients
7. Actions of Leadership
The managing partner met with the network directors on several occasions to discuss the changes
Once the plans were finalized, the leadership team met with the agents and their assistants
After the changes were finalized, an announcement was made via e-mail by the managing partner
8. Effectiveness of the Change Process
Each of the agents have seen significant improvements in the business and client base
Agents are able to place more focus on marketing, recruiting new clients, and retaining their existing clients
The assistants have gained knowledge and experience from the other agents
9. Conclusion
How does Northwestern Mutual respond to innovation and change?
By recognizing the ever-changing needs of the clients
By knowing the current competition
Understanding the external and internal forces impacting the organization
By quickly and efficiently making necessary changes
Website: www.NorthwesternMutual.com