I.

Introduction

Willis Towers Watson or WTW is the leading global advisory, broking and solutions company that helps
clients around the world turn risk into a path for growth.

A strong client focus, an emphasis on teamwork, unwavering integrity, mutual respect and a constant
striving for excellence are the values at the core of WTW’s rich history.

History

The former Willis Towers Watson formed as a merger of equals between London based Willis Group and
Arlington based Towers Watson. Towers Watson was formed as a merger between Towers Perrin and
Watson Wyatt in 2009.

The companies, Willis Group and Towers Watson announced the merger on June 30, 2015 in a deal
valued at $18 billion. Willis Towers Watson maintained its domicile in Ireland and list on the New York
Stock Exchange. Later in 2015, the company moved its domicile to Virginia in the US and delisted from
the NYSE and relisted on the NASDAQ. Willis Group exercised its right to acquire the remainder of Gras
Savoye and agreed to purchase 85% of Miller, the leading London independent wholesale insurance
broker.

The merger closed on January 5, 2016 once all regulatory approvals were received. Willis Towers
Watson publicly announced their name change on January 5. Willis Group shareholders owned 50.1%
while those of Towers Watson shareholders owned 49.9% of the combined company.

On completion, Towers Watson CEO, John Haley, became the CEO, Willis Group CEO, Dominic Casserley,
became the President and Deputy CEO while Willis Group Chairman, James McCann, became the
chairman of the merged group with the twelve board seats shared equally between the two companies.

In August 2021, Carl Hess was selected as the company’s president and next CEO to succeed, upon John
Haley’s retirement. A new global leadership team was also announced before the end of 2021. On
January 2022, Carl Hess formally succeeded John Haley as CEO and Willis Towers Watson became WTW.

Today, WTW operates in more than 140 countries and has a workforce of more than 40,000 employees.
It joined the Hedge Fund Standards Board and follows the voluntary code of standards of best practice
endorsed by its members.

Purpose and Values

I. Client focus

“We are driven to help our clients succeed. In every interaction and with every solution, we act in our
clients’ best interests – striving to understand their needs, respecting their perspectives and exceeding
their expectations.”
II. Teamwork

“When you get one of us, you get all of us. We bring innovative solutions and world-class advice to our
clients by working across boundaries of business, geography and function. We help each other succeed
and create more value by working together.”

III. Integrity

“Our clients invest more than their time and money with us; they also invest their trust. We seek to earn
that trust every day through professionalism, doing what is right and telling the truth. We are
accountable to the organizations and people with which we interact – including clients, shareholders,
regulators and each other for our actions and results.”

IV. Respect

“We listen to and learn from each other. We support and celebrate differences, foster an inclusive
culture and operate with openness, honesty and benefit of the doubt. We manage our relationships,
inside the company and out, with fairness, decency and good citizenship.”

V. Excellence

We strive to lead and sustain excellence. Most importantly, this means an unwavering commitment to
professional development and personal growth for our people. Our colleagues take responsibility to
develop their expertise, competencies and professional stature, while the company invests in the tools
and opportunities that allow for continual development. In business, we place an unrelenting focus on
innovation, quality and risk management.

II. Management styles

Kurt Lewin, a German-American psychologist, known as the founder of social psychology, conducted
ground-breaking work in the 1930s that distinguished between three leadership styles: authoritarian,
democratic, and laissez-faire. Since then, many following viewpoints on leadership have been inspired
by Lewin's theory.

Authoritarian leadership

Authoritarian leadership entails total control by the leader. Groups with authoritarian leaders are told
what to do and are expected to carry it out. Under time constraints, this approach might be effective
since it enables the leader to take swift action and give the group clear instructions. A polarized group
can be inspired by an authoritative leader who articulates a strong vision. However, autocratic leaders
are more prone to ignore others' good suggestions. Additionally, the fashion can lead to anxiety and
dissatisfaction. Based in Lewin’s study, children under authoritarian supervision were productive but not
particularly creative.

President Lyndon B. Johnson serves as an illustration of effective authoritarian leadership. Johnson had a
reputation in Congress for being tough and having a remarkable ability to enact laws. As President,
Lyndon Johnson aspired to reshape American society, and when one senator joked that "Rome wasn't
constructed in a day," another retorted, "Lyndon Johnson wasn't the foreman on that work." His broad
vision encompassed Medicare, voting rights, and civil rights. Johnson would charm, persuade, threaten,
cajole, and browbeat opponents into submission in order to accomplish his goals. In retrospect, it almost
seems as though Johnson's unwavering willpower was what carried his important legislation through
Congress.

Authoritarian leaders may be extremely effective, yet some may also seriously hurt their followers. An
extreme example of authoritarian rule is the Kim family in North Korea. Senior advisors in North Korea
fear Kim Jong Un for good reason. These guys give unnecessary flattery instead of real guidance. An
authoritarian leader can be disastrous if left unchecked.

Democratic leadership

Democratic leadership establishes a balance between the group and the leader in terms of decision-
making authority. Democratic leaders take an active role in discussions while also taking the time to hear
other speakers out. Positive, inclusive, and collaborative work environments are frequently the result of
this style. A strong democratic leader can also encourage the group's creativity. With this approach, the
group's decisions is still ultimately under the leader's authority. The children in Lewin's study who were
led democratically produced the most outstanding work.

One good example of a successful democratic leader is General Dwight Eisenhower. Ike was named
Supreme Allied Commander during World War II. Even though that position might seem to indicate
unrestricted power, he worked very hard to keep a broad coalition together. Strong Allied politicians
frequently had conflicting objectives and firm opinions on military strategies. Although these men's
opinions were illogical, Ike made them feel heard. Ike also valued having conversations with his team
about problems rather than just giving them commands. He famously remarked “Leadership consists of
nothing but taking responsibility for everything that goes wrong and giving your subordinates credit for
everything that goes well.”

Laissez-faire leadership

Laissez-faire leadership gives every member of the group full autonomy. Laissez-faire leaders rarely
voice their viewpoints and don't take part in decision-making. If the group is highly motivated and
capable, this approach may be effective. Laissez-faire leadership, however, has a number of drawbacks.
Without the group's leader's guidance, members may compete over roles and obligations, resulting in
conflict. Additionally, discussions could drag on for too long. Finally, the leader loses control of the
outcome by staying out of the process. Children who had laissez-faire leadership in Lewin's study were
the least productive and the most contentious.

The administration of James Buchanan provides an example of the drawbacks of laissez-faire

governance. America needed the White House's leadership as enslavement threatened to split the
country apart. James Buchanan did not propose anything. As the South actually started to secede,
Buchanan testified before Congress that, despite his conviction that secession was unlawful, the federal
government was unable to prevent it. Both Northerners and Southerners were thrown off because of his
position. In his cabinet, chaos reigned. Some secretaries left because Buchanan didn't make sufficient
efforts to encourage the South, while others left because he didn't take sufficient steps to prevent
secession. A Southerner who served as his secretary of war pushed matters into his own hands and sent
American military supplies to places where the South might readily seize them. When war broke out,
this approach strengthened the Confederacy and undermined the Union Army. Because of his
reluctance to address the secession crisis, many historians consider Buchanan as one of America's worst
presidents.

III. WTW Management Style

Based on the above

IV. Alternative Style

V. Conclusion

Management styles are the methods a person employs to manage a person, meeting, project, group of
people, or organization. Depending on your management style, others may watch you plan, organize
your work, make decisions, and exert authority. Under different circumstances, you could use a range of
management techniques in your professional life. There isn't a single style that works in all
circumstances; each style has pros and cons of its own. Instead, you must be aware of your personality,
temperament, the kind of people you have, and the needs of your business in order to act as a manager
in the best way possible. The management style will ultimately depend on the specific vision, mission,
values, and goals of the organization as well as the individuals involved.