Word: penns
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Dates: during 1960-1969
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Other companies have used the single-policy idea and door-to-door peddling. They have even copied Penn Life's presentation-and have done less well. The company's personnel policy is more difficult to duplicate. As Beyer says: "From the minute we hire a man, he is in our house for the rest of his life-he, his wife, his children, his dreams become our responsibility. There is no firing in this company. A man has to be a thief to be fired...
...born loser? Not if he becomes a salesman for Pennsylvania Life Insurance Co., whose president cites this as the résumé of an ideal prospective employee. Penn Life offers such men an income that fairly often exceeds $20,000 and a smothering of somewhat unusual fringe benefits. According to President Stanley Beyer, 36: "We become the teacher who loved him, the mother-in-law who thinks he is great, the coach who gave him nine letters, the boss who wants to make him president...
...minute presentation prepared by the company. Management's philosophy is that anybody who can read can sell. Success is founded on making plenty of presentations; salesmen make as many as a dozen brief calls for each prospect who is willing to listen to a presentation. But Penn Life has calculated that one out of three who listen will...
...whom Penn Life selects to be the local managers are crucial to the system. Each is expected to be a father image to a five-man group of salesmen. The manager is trained more in lay psychology than in selling, and acts as a moral-rearmer when the salesman's spirit flags. "The manager's whole life, his home, his wife, his family, become the center of social activity for that sales force," says Beyer. "An army is disciplined out of fear; our men are disciplined out of loyalty to a leader, like a Cub Scout pack would...
...Penn is still a great team," Barnaby said, "but we're a very strong team with a lot of potential. If we can realize 50 per cent of our potential. we'll be a real nemesis...