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Submitted by red0613 on February 12, 2007
Category: Business
Words: 3713 | Pages: 15
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Popularity Rank: 11,324
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Problem Solution: Intersect Investment Services.
Intersect Investment company has been facing economic challenges since September 11, 2001. The tragedy has impacted the investment industry and forced Intersect to make drastic changes in order to survive as a business. Intersect has decided to implement a new customer intimacy model within 12 months that will build long-term relationships between customers and employees, which will ultimately increase Intersects ranking to number 3 in the industry, increase customer satisfaction by 50 percent, and reduce employee turnover by 25 percent. The goals will be achieved through the implementation of effective communication strategies and the development of a coaching culture.
Describe the Situation
Issue and Opportunity Identification
In order to decrease employee turnover, increase revenue and profit, rebuild brand image, achieve customer satisfaction and ultimately save the business, organizational change must take place. This change is in the form of implementing a new vision which will “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” (Intersect Scenario).
Intersect’s CEO Frank Jeffers has hired Janet Angelo as Executive Vice President of Marketing and Sales to successfully implement the new model in 12 months. This implementation will be a challenge for Janet, but she has the opportunity to motivate employees by teaching goal-setting. Janet can help enhance effort and performance of employees by establishing goals, holding individuals accountable for goals, showing employees how to complete difficult assignments and tasks, advising employees on how to overcome performance roadblocks, expressing verbal support, communication with employees and recognizing and rewarding progress” (Kreitner-Kinicki, 2005).
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