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Problem Solution: Intersect Investments Problem Solution: Intersect Investments Intersect Investments has communication problems within the realm of their organization.
Submitted by dani1 on April 18, 2008
Category: Business
Words: 4407 | Pages: 18
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Problem Solution: Intersect Investments
Problem Solution: Intersect Investments
Intersect Investment is a financial services organization that is struggling to compete within an industry that has been in a constant state of flux since September 11, 2001. This volatile climate has made it difficult for many financial firms to keep their clients’ trust as well as maintain credibility with Wall Street. In the past four years Intersect Investment Services has barely managed to survive but has resisted making any drastic changes. Now it is evident that the organization must make sweeping changes in the way it interacts with its customers if it is to be competitive and regain the company’s standing in the financial services industry.
Situation Analysis
Issue and Opportunity Identification
Intersect Investments has found the business declining in the last five years. CEO Frank Jeffers has identified a new vision to provide a broad set of services and products to customers using a customer intimacy model that will build long-term relationships based on trust and value to the customer. Frank’s style of leadership is a transactional style that has served both him and the organization well over time. Transactional leaders exert corrective action only when subordinates fail to obtain performance goals (Kreitner, 2004). However, he did not do a good job selling his vision to his leadership team and this caused a strong resistance among management and employees to the changes. When the executive vice president of sales did not support the CEO’s vision and implement the customer intimacy model within the sales department Frank let him go. One year after the CEO identified this new sales model it is still not implemented at Intersect and sales are dropping, customers are dissatisfied with the services they are receiving, and employees are unhappy and unfulfilled in their jobs.
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