Gap Analysis: Intersect InvestmentsThe volatile climate after the September 11th, 2001, left many financial firms struggling to keep both their clients' trust and Wall Street's credibility. To succeed, investment companies need to offer an ever-expanding array of up-to-the-minute products coupled with expert advice.
Intersect Investment Services CEO Frank Jeffers identified a new vision of providing a broad set of products and services to consumer and small business customers using a model of customer intimacy that will build long-term relationships based on trust and value to the customer.
This paper discusses the issues that Intersect is facing while trying to initiate this radically innovative change in the organization. There was a great deal of resistance to change at Intersect, according to Niccolo Machiavelli, The Prince, (1541). "We must bear in mind, then, that there is nothing more difficult and dangerous, or more doubtful of success, than an attempt to introduce a new order of things in any state."
The paper also discusses the reason that caused these issues and the strategies that the organization should take to decrease the employees' resistance to change and adapt to the new vision and changes.
Gap Analysis is a resource assessment tool enabling a company to compare the actual performance with its potential performance. The gap analysis in this paper depicts what should be done differently from the current situation to achieve the end state vision.
Situation AnalysisIssue and Opportunity IdentificationOne of the issues that Intersect is facing is the communication gap between the employees and the upper management. The employees are resilient to change as they do not understand the reason for the change in vision, and as the change and the strategic plan to achieve that vision does not align with the current organization's culture. In the past, there was no communication...