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Managing Organizational Conflicts
Managing organizational conflicts

The Prudential Insurance Company of America ranks as the number one provider of life insurance in the United States. Over the years, Prudential developed not only a complete line of insurance products but also began to offer a diversity of financial services, such as asset management and investment banking. Its annual sales of nearly $30 billion place it squarely in the middle of the Fortune 100. In the 1990s, however, Prudential's reputation was seriously damaged by scandals involving improper sales practices by its insurance agents. In 1998, the company recorded a pretax charge of more than $1.6 billion to cover restitution payments resulting from a series of lawsuits (Scism, 1998, p. 3). This charge reduced Prudential's profits in the previous ...

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