An Analysis of the Topic of the Problem Solution and the Intersect Investments Throughout the United States

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An Analysis of the Topic of the Problem Solution and the Intersect Investments Throughout the United States essay

Problem Solution: Intersect Investments Throughout the United States and probably the whole world the financial services industry has been in a state of mayhem since September 11, 2001. Many of the leading companies or firms in the financial industry have been struggling to survive in the economy due to the events that took place almost eight years ago. Most companies in the industry tried to maintain both clients trust as well as keeping good standing with Wall Street. The company that I will be discussing is a company by the name of Intersect. This company has been very successful over the years, but within the year this article takes place some problems have been raised. The CEO of Intersect, Frank Jeffers has a new vision that he believes will transform the company overall. The vision he wants to introduce is to have the salespeople become a trusted advisor to the customers, by providing exceptional service and providing services that add value to the current and future customers; which is called customer intimacy. Overall, the CEO of Intersect expects this vision to improve the brand image of current products or services and hopefully, begin to establish long-term customer relationships. This paper will consist of information pertaining to the problems or the gaps within the organization. Majority of the management team do not agree with this new concept of a model which has caused several problems within the organization.

The company is faced with issues such as feedback, communication barriers, and employees receiving mixed messages. If the management team and the organization as whole can understand and promote this new model then Frank Jeffers vision can be successful and achieve the profitable the company once had.Situation AnalysisIssue and Opportunity Identification The CEO wants to transform the company by using the new vision the he has identified. With new ideas of change the majority of employees may believe that they do not possess the knowledge desired to see the goal through. The management team and Janet Angelo, the Executive Vice President of Marketing and Sales, will need to educate the employees through having a communication of providing them with some type of feedback. Many people say that feedback can be instructional and motivational when people receive it. Ð2Ð ?ÑšFeedback instructs when it clarifies roles or teaches new behavior (Kreitner & Kinicki, 2004, Ch.10 p.14).D2D, Noe The necessary precautions are needed for Intersects management team to translate the role or the vision for each employee to understand. This is needed to allow the employees to understand how their acceptance of this concept will impact the change of how the new direction of the company is moving towards. 360-degree feedback will enable the company to determine whether or not they are on the right path for change. For example, in the scenario for Intersect the employees voiced their options on how the management team expects them to have a personal relationship with the customers while still maintaining their sales and meeting the call handling time. EVP Janet Angelo needs that feedback from the employees in order to come up with solutions for the problems and meet the overall goal of the company. Along with feedback the management team had some issues with the way things were being communicated throughout the organization.

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The lack of communication between the CEO and the management team created a big problem. CEO Frank Jeffers had the vision but did not want to see the vision through. He just put all the responsible on Janet and wanted her to obtain the goal. There was a lack of communication between the management team and employees. The employees had no idea why the change was needed because they felt like the current state of the company was satisfactory. When companyÐ2Ð,â„¢s have communication barriers within an organization it can cause chaos and resistance among employees. Employees can receive the message has being negative and may believe that the change was because of what they were doing or what they werenÐ’Ð,a,¢t doing which may lead to resistance. Adam Festinger D,a,,ts Equity Theory states,Ð2Ð ?Ñoe people are motivated to maintain consistency between their cognitive beliefs and their behavior (Kreitner & Kinicki, 2004, Ch. 9 p.7Ð2Ð,Ñce). That being said if employers motivated their employees in different areas then maybe they would become more acceptable to accept change. The management team for Intersect also had issues with mixed messages being perceived. Many of the employees and department leaders did not understand why the company was changing as a whole. They believed that things were fine just the way they were.

Employees had mixed messages in the forms have what goal should be followed, our departmental goal of increasing our sales and having a lower turnover rate or are it the vision of having a strong customer intimacy base. Those issues needed to be addressed so all members of the company can be on the same page, so they can overall meet the goal. Stakeholder Perspectives/Ethical DilemmasEmployees are the primary stakeholders that companies have. The employees of a company can greatly impact the way a business is ran, but it can either help a company succeed or promote failure. Most employees value the integrity of the company where they are currently employed. Along with integrity, employees also expect to be treated with fairness and respect one deserves. Shareholders are also part of the stakeholders of the company. Shareholders like to have the knowledge of what is a good investment and what will be beneficial for their success. Investors usually want to put collateral into an investment that will be benefit them long term.

Since, Intersects vision is to have customer intimacy this is a reflection of what is expected to become a long-term success. Consumer or customer interests are somewhat similar to that of employees and shareholders. Customers usually have an interest in the values of the company in which the purchasing of products or services are a concern. Customers want a company in which they can relate to and have a sense of trust with a company. If a company wants to please the customers they need to cater to the wants and needs of the customers, which equal success and profit. Problem StatementInvestment Intersect will seek the potential of the companyÐ2Ð ?à ?¢s future by re-establishing the vision by becoming the best financial services industry that appreciate and foster customers with the absolute most intimacy with services, products, and technologies provided by a workforce that will care and improve the clientÐ’Ð,a,,ts everyday business needs. End-State Vision Intersect Investment has found a strategy that states to the customers and potential investors that the company is here stay. Intersect has changed the outlook of the business and reevaluated what customers needs are. Intersect Investment company is known around the world as a business who believes in providing the customers with exceptional value on a more intimate relationship basis. Intersect currently provides quality services, products, and technologies by employees by displaying care for clients high-performance business needs. Small businesses and customers will have the knowledge of knowing that Intersect cares about them through providing quality financial services. Each employee on the management team has a common goal; to provide a high-performing financial service to all customers no matter the call time to enhance quality. Based on this goal, the management team now has more customers then ever before that pay more then before. Our revenues have elevated substantially presented measurements charts. The estimated increase in revenues is now 14%. In a years time the management team at Intersect have accomplished what other companies have taken three years to achieve. Thanks to up-to-date better computer information systems, employees are well informed on the minute with important news by email and memos. Employees are very proud to be part of our company. Employee turnover rates have dropped and costs have also dropped because of this factor.

The company may have a better work environment then before and most of our competitors in the business. Employees also feel a higher sense of job satisfaction. When Intersects states satisfaction, the company thinks of a personÐ2Ð,a,,cs evaluation of his or her job at work in context. Every goal at Intersect Investment has been successfully complete in the one year time span. Goals should be refined as specific, measurable, and time specific. For example, Janet must implement the customer intimacy model within 12 months. That example is considered to be time specific and have purpose.Alternative SolutionsIntersect needs to consider concern factors when implementing the vision of a customer intimacy model. Goal settings can direct attention, regulate effort, and increase diligence. Intersect Investment need to set many goals to complete the overall vision. Once the company implements the model and the amount of customer intimacy in the terms of measurements, customer surveys can be useful. Questions can be asked in regard to how they believe the customer needs are being satisfied or do they feel a connection with the service employee. Intersect can then set a goal to receive a certain percentage of the customers feedback stating how they felt about the new customer intimacy. This goal can be measured in quantity and analyzed each month. (Kreitner, 2005) Disadvantages of making goals would probably be restriction of goals. They will try to reach there goals no matter what the situation called for. Janet will definitely set goals for the whole team to reach. A goal could she would shoot for could be increase in customers. Emotions also play an important role on how employees.

Many service employees feel a sense of Cognitive Dissonance. Cognitive dissonance is a psychological tension that occurs when people perceive an inconsistency between their beliefs, feelings, and behavior (Kinicki, 2004). Employees believe this because the message or vision was unclear. Employees are Intersect and department supervisors were told to make more calls with less call time which lowers the quality of the service. Members of the organization were told to have more customer relationship with all customers. It the employees have a clear vision to go after, they will no longer feel any cognitive dissonance. The value of this would be high. The disadvantage of this would be that the service employees would not reach a high amount of customers as they regularly would. Janet would definitely consider getting rid of the dissonance in the workplace to create more intimacy with the customers. Analysis of Alternative SolutionsAlternatives for Intersect would be to promote the companies overall goals throughout the organization. By adding the goals or vision to the business plan, it will provide value to products and services, reduce costs, increase profits, and increase clientele. The scoring system I used consists of low medium high. The goal that may eliminate the solution if not successfully implemented by staff is the goal to convert to change. If not successful, all other goals are lacking in originality and Intersect will fail to gain revenues from customers and continue to have high employee turnover rates. Risk Assessment and Mitigation TechniquesThe changing of the attitudes in the workforce creates risks within an organization. If such changes are implemented employees will negatively absorb the changes personally and may rebel. This risk is considered medium because employees can be replaced if the willingness to employ change is not met. Employees will be unwilling to do a good job. We assume the change will increase customers, and customer sales. The risk of decreasing employee rates can also have a negative backlash. Keeping employees longer can lead to less diversity and less new talent. This risk is low. Not creating diversity may not promote new ideas and technology. Intersect investments can assume keeping employees will reduce cost to train new employees for the business. Optimal Solution The optimal solution for Intersect Investment is to formulate a committee that will meet on a monthly basis to discuss the current and future plansD2D,a,,¢ of the company. Communication is needed throughout the organization. Without communication no employee or member of management would know what is going on. All members on the management team need to address all issues the employees have because their opinion matters as well.

Intersect Investment will reach there end-state goals to obtain more customers with the customer intimacy model. Employee turnover will be resolved by hiring the necessary trainers with experience in the financial service industry. Trainers will not only improve customer relationships, but promote a healthy environment which will improve employee morale. In order for Intersect to meet the overall goal of customer intimacy, all employees will have to be updated with all new information for the company. Implementation PlanIntersect will immediately step forward to solve lower revenues, create customer intimacy, reduce customer turnover rates, and employee attitudes for change in the workforce. Janet Angelo, executive Vice President of Marketing and Sales will immediately push the customer intimacy model within the next month. All these goals will be measured on a monthly bases and length of the project plan will end in one yearÐ2Ð,â„¢s time.

The right trainers will be hired for the employees by the human resources department. Information systems will also be created to keep the employees updated with changes in the next month. A small IT group will be hired to the company. These information systems will also reduce employee dissonance and improve attitudes on and off work hours. Customers will notice this immediately and will call in for more service and products which will be available. One yearD2D,âts time should be all Investment Intersect needs to tum itself around. Evaluation of ResultsIn the end, we find increase of revenues from customers because they enjoyed their experience using Intersect Investments financial services. Surveys have concluded that we now have 80%happier customers who appreciate our financial service advice. Intersect Investment has also lowered costs 10% in the past year from 50% lower turnover rates measured on charts and data presented monthly. Intersect Investments has met the overall goal set out to for the company by implementing all necessary changes throughout the organization.Conclusionin conclusion if the company Intersect wants to achieve the vision that the company need to keep in mind that change is needed in order for a company to grow.

The issues addressed the opportunities the company as a whole can accomplish. CEO and the management team need to understand that feedback is important in an organization. In any company all employees and members of the company need to understand what is expected. The expectations of the employees are to increase sales by the end of the quarter then they need to know that ahead of time instead of the last minute. A clear message is needed to be translated so the goal is achievable and no mixed messages. The transformation of Investment Intersect has received much positive response due to the change to a customer intimacy model. Intersect Investments has gained a chance of becoming the financial industry leader by implementing the CEODD,a,¢s vision. Through experience and the willingness to adapt, all obstacles can be overcome and all goals can be achieved.

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An Analysis of the Topic of the Problem Solution and the Intersect Investments Throughout the United States. (2022, Nov 30). Retrieved from https://papersowl.com/examples/an-analysis-of-the-topic-of-the-problem-solution-and-the-intersect-investments-throughout-the-united-states/