abhishreshthaa
Abhijeet S
Conseco (NYSE: CNO), originally Security Life of Indiana, is a financial services organization based in Carmel, Indiana. Conseco's insurance subsidiaries provide life insurance, annuity and supplemental health insurance products to more than 4 million customers in the United States. These products are distributed through independent agents, career agents and direct to customers through television advertising and direct mail.
Conseco is currently ranked 503 on the Fortune 1000 with 2007 revenues of $4.5 billion.
Conseco was incorporated in 1979, began insurance operations in 1982 and became a public company in 1985.
In 1986 Conseco acquired Lincoln Income Life Insurance Company for $29 per share or $32.3 mil. Shearson Lehman Brothers advised Lincoln Income Life Insurance. Earlier, in mid 1985, Lincoln had agreed to be acquired by I.C.H.[1] for $31 per share in cash but the merger couldn't be consummated as the Kentucky Department of Insurance raised objections to certain expenses which Lincoln would have incurred in the merger. Lincoln also received a merger proposal from Redgate in 1985. Satisfied with its recipe for acquiring and improving insurance companies, Conseco stepped up its acquisition efforts in 1986. It purchased Bankers National Life Insurance Company for $118 million, respectively.
In 1998, Conseco purchased the former Greentree Financial, one of the largest financiers of mobile homes, in an attempt to diversify into consumer financial services. Conseco (though not its subsidiary insurance companies) entered Chapter 11 reorganization in 2002 and emerged nine months later in 2003. In the process of reorganization, GreenTree was divested and Conseco is now solely focused on the insurance industry.
C. James Prieur, Conseco's CEO, joined the company on 7 September 2006, and also became a member of Conseco's board of directors. Prieur was the president and chief operating officer at Sun Life Financial prior to accepting the position at Conseco.
First stage
The first stage of the implementation will take around 1 to 2 weeks. The first stage focuses on the initial stages of the implementation. This part focuses on the initial preparation for the new strategy. The resources for this activity includes different sources that can provide information on how the business can grow and achieve its goals; the other resource for this stage includes different notes and information that will provide the different changes that needs to be done with regards to the employees and the initiation process. In this stage J & J Co. will gather the needed resources that will help them plan for the implementation of the new strategy.
Second Stage
The second stage of the implementation of the new strategy includes the planning stage. The second stage of the implementation stage will take one week so that proper planning, testing and analysis of the new strategy can be made. In this stage the effects of the new strategy have been known and are ready for implementation in the company. The resource for this stage includes the funds that will be used for the new strategy. A resource for this stage is the communication facilities that will be used to inform the personnel about the changes that will happen to the firm. Moreover a resource for this stage is the companies that J & J Co will work with to achieve its goals.
Third stage
The third stage of the implementation stage will take three to four weeks for proper adjustments. In this stage the focus is on the full implementation of the new strategy. In this stage everyone concerned has been informed of the change in strategy and they start to feel the changes brought about by the new strategy. The resources for this stage are proper information and training tools for employees about the new strategy. Other resources include the location for the new stores and the advertisement facilities that will be used.
Fourth stage
The fourth stage of the implementation will involve the control, validation and evaluation of the new strategy. The resource for this stage included informative materials that will be used to understand the changes the new strategy has done to the company and what are the current problems of the initiated project. The fourth stage will check how the project succeeded in its goal and how J & J Co had changed. The fourth stage of the project will take around one to two weeks.
Fifth stage
The fifth stage will feature the evaluation of the implementation of the new strategy. To avoid failure, the implementation of the new strategy should be constantly checked and evaluated to see if it still performs according to standards. Evaluation will focus on checking how the firm has adjusted to the new strategy and how the firm has grown after changing its strategies. Evaluation will be used to determine the things or issues that should be changed within the new strategies and determine the next courses of actions that should be taken to achieve success. This stage will use one to two weeks.
Conseco is currently ranked 503 on the Fortune 1000 with 2007 revenues of $4.5 billion.
Conseco was incorporated in 1979, began insurance operations in 1982 and became a public company in 1985.
In 1986 Conseco acquired Lincoln Income Life Insurance Company for $29 per share or $32.3 mil. Shearson Lehman Brothers advised Lincoln Income Life Insurance. Earlier, in mid 1985, Lincoln had agreed to be acquired by I.C.H.[1] for $31 per share in cash but the merger couldn't be consummated as the Kentucky Department of Insurance raised objections to certain expenses which Lincoln would have incurred in the merger. Lincoln also received a merger proposal from Redgate in 1985. Satisfied with its recipe for acquiring and improving insurance companies, Conseco stepped up its acquisition efforts in 1986. It purchased Bankers National Life Insurance Company for $118 million, respectively.
In 1998, Conseco purchased the former Greentree Financial, one of the largest financiers of mobile homes, in an attempt to diversify into consumer financial services. Conseco (though not its subsidiary insurance companies) entered Chapter 11 reorganization in 2002 and emerged nine months later in 2003. In the process of reorganization, GreenTree was divested and Conseco is now solely focused on the insurance industry.
C. James Prieur, Conseco's CEO, joined the company on 7 September 2006, and also became a member of Conseco's board of directors. Prieur was the president and chief operating officer at Sun Life Financial prior to accepting the position at Conseco.
First stage
The first stage of the implementation will take around 1 to 2 weeks. The first stage focuses on the initial stages of the implementation. This part focuses on the initial preparation for the new strategy. The resources for this activity includes different sources that can provide information on how the business can grow and achieve its goals; the other resource for this stage includes different notes and information that will provide the different changes that needs to be done with regards to the employees and the initiation process. In this stage J & J Co. will gather the needed resources that will help them plan for the implementation of the new strategy.
Second Stage
The second stage of the implementation of the new strategy includes the planning stage. The second stage of the implementation stage will take one week so that proper planning, testing and analysis of the new strategy can be made. In this stage the effects of the new strategy have been known and are ready for implementation in the company. The resource for this stage includes the funds that will be used for the new strategy. A resource for this stage is the communication facilities that will be used to inform the personnel about the changes that will happen to the firm. Moreover a resource for this stage is the companies that J & J Co will work with to achieve its goals.
Third stage
The third stage of the implementation stage will take three to four weeks for proper adjustments. In this stage the focus is on the full implementation of the new strategy. In this stage everyone concerned has been informed of the change in strategy and they start to feel the changes brought about by the new strategy. The resources for this stage are proper information and training tools for employees about the new strategy. Other resources include the location for the new stores and the advertisement facilities that will be used.
Fourth stage
The fourth stage of the implementation will involve the control, validation and evaluation of the new strategy. The resource for this stage included informative materials that will be used to understand the changes the new strategy has done to the company and what are the current problems of the initiated project. The fourth stage will check how the project succeeded in its goal and how J & J Co had changed. The fourth stage of the project will take around one to two weeks.
Fifth stage
The fifth stage will feature the evaluation of the implementation of the new strategy. To avoid failure, the implementation of the new strategy should be constantly checked and evaluated to see if it still performs according to standards. Evaluation will focus on checking how the firm has adjusted to the new strategy and how the firm has grown after changing its strategies. Evaluation will be used to determine the things or issues that should be changed within the new strategies and determine the next courses of actions that should be taken to achieve success. This stage will use one to two weeks.