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Problem Definition Inersect Investment Services Company PROBLEM DEFINITION: Intersect Investment Services Company Problem Definition: Intersect Investment Services
Submitted by msmilner on October 24, 2006
Category: Business
Words: 1161 | Pages: 5
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PROBLEM DEFINITION: Intersect Investment Services Company
Problem Definition: Intersect Investment Services Company
Angelica Francis
University of Phoenix
Situation Analysis and Problem Statement
The financial service industry was rocked by the terrorist attacks of September 11, 2001. Intersect Investment Services was no exception. Once enjoying top status is now struggling to maintain client trust and credibility on Wall Street. The leadership at Intersect Investment Services realizes that they must offer a large variety of innovative products along with expert advice to maintain top ranking within the industry.
Situation Background (Step 1)
Intersects CEO Frank Jeffers came up with 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.¡¨ (Company overview, 2006, P1)
Mr. Jeffers realizes that implementation of his plan will necessitate radical change within the organization. He already relieved one Executive Vice President (EVP) of Marketing and Sales because he did not support the vision or lead his staff to follow it either. Mr. Jeffers has brought Janet Angelo on board due to her expertise in implementing a customer intimacy model in her previous positions. She improved customer loyalty and sales in those positions and therefore is expected to do the same at Intersect but within a 12-month time frame.
Intersect has also fallen short of revenue targets, sales employee turnover is up 25% and customer satisfaction is down by more than 10% all within the past year.
Issue Identification
One of Intersects more obvious issues is the internal forces for change such as decreased job satisfaction, productivity and conflict. Employees are leaving, according to Annie Sorrento ¡V Director of Sales...
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