Change is perennial. And so is transformation. Ever since the world has evolved; all aspects undergo a change at one instance or the other. We will review the scenario with IIS with same zest to change and why it needed to change? What are factors that have contributed to change and we will also evaluate the pros and cons of change including the vision needed to implement and succeed in this change. We know it is a rhetoric that ends up with question itself being the answer. Change is necessary for evolution and every business, company or corporate needs to evolve to keep pace with the ever changing world.
Under this scenario, we will attribute this paper to evaluation analysis of situation, define problems, state the goals, identify the opportunities and dilemmas, assess the risks, and present a solution and hence, path to success.
Situation Background (Step 1)IIS Investment Services (IIS) is at a crucial point and is facing a situation that may very likely determine its future as an organization.
Due to 9/11, several industries were in the state of constant instability. It was a two way fight. Keeping the client's trust and maintaining the credibility in Wall Street. To meet and win both fights, changes were imperative. It was the situation that called for drastic changes within the outlook of the entire company. IIS was a part of this cauldron and was in free fall and barely making the ends meet. Not only company is losing customers; it is also losing employees. This triggered CEO, Frank Jeffers to recognize and implement revolutionary organizational changes. In order to achieve the goals, new ways of conducting the business and new cultures are introduced. Frank clearly stated his new strategy through customer intimacy model "Provide a broad set of products...