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Stu Henderson: The CEO Of Western National Insurance Company

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Western National Insurance Group is an insurance company headquartered in Minnesota, shrouded in outdated practices, and overwhelmed by financial issues that threaten to demolish the once thriving insurance company. This company, one catastrophic natural disaster away from bankruptcy, must change the way it does business or risk extinction. Western National Insurance while lacking in basic tools to be successful financially, the company does however excel in customer service and employee satisfaction. Having a CEO/Chair of the Board of Directors at the helm of a failing organization that makes all organizational decisions without the input of the company president decreases transparency and the opportunity for growth. This organization was …show more content…

His initial moves to change the company around started with addressing the organizations that rate and evaluate insurance agencies; his goal was to inform these organizations that changes where in the works and that Western National Insurance was on the precipice of change. Henderson focused his attention on the stakeholders that have the most potential to influence organizational change; policy holders, the executive board, and the workforce/independent agents that represent the company. Burnes and Oswick (2012) describe what Henderson did upon his taking control of the reigns as …show more content…

His initial meetings included meeting with the executive board to introduce himself and detail his ideals. Henderson also met with top management to determine what direction to go in the next few months. Lastly Henderson met with the employees and independent agents that he considered the lifeblood of Western National Insurance. He revealed his plans to not induce any drastic changes and to simply evaluate and learn from these employees what they were doing right, where they envisioned the company going, and how they thought the organization could improve. Strand and Freeman (2015) define stakeholders and their impact on organizations as such that they influence and are influenced by an organizations achievement of objectives. The impact that stakeholders should have on an organization is critical, “it is necessary that they understand and accept the roles and responsibilities that they have, to establish clear plans and objectives and successfully attain all of these” (Popa & Salanţă, p. 17). The approach Henderson took to involve and use stakeholders influence for the betterment of the company not only created an environment of trust but it also created stakeholder buy in. Stakeholders where completely invested in the

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