Synopses & Reviews
This book tells how two successful financial services companies, Century Companies of America and CUNA Mutual Insurance, met the challenges of a changing marketplace by tranforming themselves through joining forces. Cowritten by Century Companies' CEO, the book describes how the boards and executives of the two companies reached the conclusion that affiliation with another company was the best strategy, how they selected each other as partners, how they accomplished the integration of the two organizations, the challenges they faced in doing so, and the lessons learned in the process. Human issues, not technical ones, were the most important in determining the success of organizational transformation, as were the early identification of cultural differences and the development of strategies to integrate those differences.
The tumultuous changes that took place in the financial services industry in the early 1980s caused both companies to realize that they needed to undertake substantially different strategies than they had previously utilized. Cowritten by Century Companies' CEO, the book describes how the boards and executives of the two companies reached the conclusion that affiliation with another company was the best strategy, how they selected each other as partners, how they accomplished the integration of the two organizations, the challenges they faced in doing so, and the lessons learned in the process.
Review
. . . Although each merger is different with individual sets of circumstances, nevertheless there is much that can be learned and many problems could be avoided if those involved were to study this detailed description.Lynn G. Merritt president and CEO, LOMA
Review
This book captures the essence of one of the most unique corporate restructurings ever consummated in the insurance industry and provides insights into why it succeeded and how it could have been improved. . . .Phillip A. Turberg, managing director The Firemark Group
Review
This stimulating and incisive book cuts to the heart of how to successfully lead and manage a successful organizational transformation. Good stuff!Joe D. Batten, CPAE chairman, The Batten Group author of Tough-Minded Leadership
Synopsis
The study of the successful integration of two financial services companies, Century Companies of America and CUNA Mutual Insurance Group.
Synopsis
This book is a case study of the integration of two financial services companies, Century Companies of America and CUNA Mutual Insurance Group. The combining of the two organizations is positioned in the book as a special case of large-scale organizational transformation. The events described took place between 1988 and 1995. While the story contains enough technical detail to make the events understandable, its focus is on the human and psychological aspects of the undertaking. The tumultuous changes that took place in the financial services industry in the early 1980s caused both companies to realize that they needed to undertake substantially different strategies than they had previously utilized. Cowritten by Century Companies' CEO, the book describes how the boards and executives of the two companies reached the conclusion that affiliation with another company was the best strategy, how they selected each other as partners, how they accomplished the integration of the two organizations, the challenges they faced in doing so, and the lessons learned in the process.
About the Author
DAVID A. WHITSETT is Professor of Psychology at the University of Northern Iowa.IRVING R. BURLING is the recently retired president and chief executive officer of Century Companies of America.
Table of Contents
An Overview
Human Issues in Organizational Change
Company Histories and Pre-Affiliation Cultures
Structural Change in the Industry
Origins of the Affiliation
The Evolution of the Affiliation
Forms of Integration in the Affiliation
Continuing Integration
Lessons Learned
Index