Gap Analysis: Intersect Investments
Organizational change occurs when a company desires to make a transition from its current state to a state that is deemed to be more successful. “Factors such as globalization of markets and rapidly evolving technology force businesses to respond in order to survive. Such changes may be relatively minor—as in the case of installing a new software program—or quite major—as in the case of refocusing an overall marketing strategy” (Managing Organizational Change, p.1). People are often threatened by change making it difficult to gain the support and commitment needed to implement changes successfully. In analyzing the Intersect Investments scenario we will review the purpose and strategy for the desired organizational change and the challenges endured during the implementation process.
Situation Analysis
Issue and Opportunity Identification
The volatile climate after the events of September 11, 2001 has left financial firms struggling to keep both their clients’ trust and Wall Street’s credibility. Investment companies have determined that in order to succeed they need to offer up-to-the-minute products and expert advice. Intersect Investments CEO Frank Jeffers has identified a new vision that replaces a traditional-selling strategy with a customer intimacy model to build long-term relationships based on trust and value to the customer. The implementation of his vision will require organizational change throughout the company with a tremendous amount of stress on the sales department. The prior Executive Vice President of Sales and Marketing has been replaced due to his lack of ability to meet Frank’s objective. The replacement EVP, Janet Angelo, has expertise and prio ...