Problem Solution: Intersect Investments
Over the years the financial service industry has become volatile and many companies have found it difficult to sustain growth without offering a larger product base to its customers. Intersect Investment Services has identified a new vision in an attempt to implement a fundamental changes in its operation to provide a broader set of products. Intersect hopes to build long-term relationships with its customers.
To implement the new business concept the organization will have to undergo a revolutionary organizational change. The Executive Vice President of Marketing and Sales has been tasked with creating and executing a plan to turn the organization around within 12 months. Prompted by the competition in the marketplace Intersect Investments must identify the relationship between external and internal forces. The challenges, however; of introducing and sustaining organizational change are difficult. There are many obstacles that are preventing Intersect from effectively responding to change.
Situation AnalysisIssue and Opportunity IdentificationIntersect Investment Services has a goal to grow its business by adding new customers, retaining current customers, and increasing the amount current customers spend and invest with the organization within a 12 month timeframe. Intersect can grow its business and become a stronger organization by using strategic planning. A strategic plan outlines an organizations long-term direction and actions necessary to achieve planned results. Strategic plans are based on considering an organizations strengths and weaknesses relative to its environmental opportunities and threats. (Kinicki & Kreitner, 2003, p. 42).
The plan to implement the "trusted advisors concept has been met with resistance from many employees and leaders within the organization. The plan will require significant changes within the organization. Many in the sales department have openly expressed their resistance to the plan. Fear layoffs or other internal concerns that have triggered increased stress, uncertainty, and anger within the organization. Many members...