Problem Solution: Intersect Investments
Intersect investment company is a financial services company that has experience problems surviving in this industry. Maintaining market share has been a struggle for many financial services companies. Intersect was also concerned about their standing on Wall Street. Although changing the way Intersect conducted business would make a positive difference, change continued to be resisted. Frank Jeffers, Intersect chief executive officer, identified a new vision: "Provide 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." (Kreitner & Kinicki, 2004).
As the chief executive officer, Frank's responsibilities involve coordinating and leading all the human, physical, and financial resources for Intersect Investment Company toward its goals. These responsibilities are fulfilled by managers when they perform the management functions: planning, organizing, staffing, leading, and controlling.
Frank knew that a drastic organizational change was needed to implement his vision. With change comes resistance. No matter how technically or administratively perfect a proposed change may be, people make or break it (Kreitner & Kinicki, 2004). The strategy for change must include employee acceptance of the change for a successful outcome.
Situation Analysis
Issue and Opportunity Identification
Intersect Investment wants to gain a stable market share and become a leader in the financial industry. This new vision will give Intersect the motivation to change the way business is conducted. The way things were done in the past di ...