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Milliman is among the world's major providers of actuarial and other related

products and services. Founded in 1947, Milliman is a self-governing firm with

offices in main cities around the world. They are owned and managed by their

principals (senior consultants), whose assortment is based on their technical,

professional, and business achievements. Milliman serves the full gamut of

business, financial, government, union, education, and nonprofit organizations. In

accumulation to their consulting actuaries, Milliman's body of professionals includes

frequent other specialists, ranging from clinicians to economists.

Despite of their remarkable growth over the past six decades, they still function

according to the guiding principles of their founders, Wendell Milliman and Stuart

Robertson. They preserve their meticulous standards of professional excellence,

peer review, and detachment. They remain dedicated to developing pioneering

tools and products, providing expert solutions, and continuing to earn their clients

trust by keeping their focal point fixed on their business objectives.

Millimans India offices were founded in 2005, and employ more than 150

professionals providing life insurance, healthcare, and employee benefits consulting

services. In combination with Millimans consultants from offices in principal cities

worldwide, their India practice combines international experience with local

knowledge through which they can help our clients prepare for operations in new

markets, enlarge beyond their boundaries, and comprehend how their pertinent

industries are affected by developments around the world.

A business model is the way in which a company generates revenue and makes a

profit from company operations. At Milliman, great ideas come from in the

organization from the innovation of many things in all the nearly 60 countries of

operations for Milliman. It is a very free organization where you can always bring in

new ideas. The top officials and the management team collectively make sure to

secure the right plans of the organization, and second I ensure that I find the right

resources to deliver the projects.

The Milliman follows a conventional business model where deep thought is given to

the planning procedure with keeping in mind the goals and objectives that are to be

achieved by the organization and accordingly based on those plans further

execution processes takes place. Furthermore, if there is room for any altercation,

necessary amendments are done in the plan.

Organizational culture is a system of shared assumptions, values, and beliefs,

which preside over how people behave in organizations. These shared values have a

strong sway on the people in the organization and dictate how they dress, act, and

perform their jobs. Every organization develops and maintains a unique culture,

which provides guiding principle and boundaries for the performance of the

members of the organization. Organizational culture is composed of seven

characteristics that range in precedence from high to low. Every organization has a

divergent value for each of these characteristics, which, when pooled, defines the

organization's unique culture. Members of organizations make judgments on the

value their organization places on these characteristics and then adjust their

behavior to match this perceived set of values.

Milliman has a very strong work culture. That is because all the officials all aligned

to the ethics and we know one another very well. This is made possible by making

the officials go through orientation, every single employee at Milliman has to go

through orientation of when they join the organization and there they understand

the culture and the risk requirements. And every year theres a consultant forum

where everyone gets together and they are reminded of those objectives.

Early on, Milliman and Robertson refined a unique work culture that placed a high

value on self-government, both from the distractions of outside ownership and the

technical obstacle of more conventional business models. Sovereignty, they

believed, would encourage trailblazing and dispassionate consulting work, which

would be a focus for clients looking for innovative solutions and goal professional

advice. They also felt that an eccentric and equitable working environment would

help them recruit the best minds in the industry. Their experiment was a success

and the firms status flourished.

An external environment is composed of all the outside factors or influences that

impact the operation of business. The business must act or react to keep up its flow

of operations.

Assessing Environmental Uncertainty

The extent to which managers have knowledge of and are able to

predict change which their organizations external environment is

affected by:

Degree of change in environmental components: how

dynamic or stable the external environment is.

Complexity of the environment: the number of components

in an organizations external environment.


1. Customers: The most important thing is the customer. They have a strong

customer relationship due to the importance of customers to their

organization where they always try to maintain and keep it this way. Going by

the uncertainty matrix, if there is a slight change in the demands of the

customers, there will be a negligible change in the revenue generated. But if

there is a dynamic change in the needs of the customers, company will have

to incur great loss.

2. Suppliers: According to the uncertainty matrix, if the suppliers change their

credit policies slightly the working of the organization will remain ineffective.

But, if the suppliers change their credit policies and plans extensively, the

company will have to bear the consequences and will need immediate

change in plans and procedures as well.

3. Competitors: if the competitors bring in a vast change in their products, there

will be a huge competition; chances are fall in the demand of the companys

products. Whereas, minimum change in the competitors product may result

in a healthy competition.
Environmental Uncertainty Matrix

Degr Simple + Stable = Low Simple + Dynamic = High-Moderate

ee of Uncertainty Uncertainty

1. Stable and predictable 1. Dynamic and unpredictable
2. Few components 2. Few components

3. Components are similar 3. Components are similar but

and remain the same continuously changing

4. Minimal need for 4. Minimal need for sophisticated

sophisticated knowledge

Examples: e-commerce, fashion clothing,

Example: soft drinks bottlers, music industry

container manufacturers, food


Complex + Stable = Low- Complex + Unstable = High Uncertainty

Moderate Uncertainty
1. Dynamic and unpredictable

1. Stable and predictable

2. Many components

2. Many components
3. Components are not similar and are

3. Components are not continuously changing

similar and remain the

4. High need for sophisticated knowledge
4. High need for Examples: computer firms,

sophisticated telecommunication firms, airlines


Examples: universities,

insurance companies

References (2017). Organizational structure. [online] Available at: [Accessed 25 Apr.
Milliman. (2017). Contact Us. [online] Available at: [Accessed 25 Apr. 2017]. (2017). The Uncertainty Matrix | The Forest of
Brocliande. [online] Available at: [Accessed
25 Apr. 2017]. (2017). What is an External Environment in Business? - Definition,
Types & Factors - Video & Lesson Transcript | [online] Available at:
definition-types-factors.html [Accessed 25 Apr. 2017].