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Intersect Essay

2756 words - 12 pages

Running head: PROBLEM SOLUTION: INTERSECT INVESTMENTS

Problem Solution: Intersect Investments
Jack Sacks

Problem Solution: Intersect Investments
In this paper you will read my understanding of the facts in reference to the Intersect
Investment Scenario. Since 2001, the financial services industry has been encountering
problems with trying to bounce back from the turbulent Wall Street disaster. Over
the period of four years, Intersect Investments has been struggling to compete in the financial
services industry. The company must develop a new strategy that will change the current
direction of the company. Intersect Investments has several major problems that need ...view middle of the document...

Before this vision can be implemented, the CEO needs to ensure his entire senior
management team is as passionate about the vision as he is. The new vision involves a
new model of customer intimacy that is meant to build long-term relationships on trust and value
to the customer. The new vision could change the direction and the improve the creditability of
the company. If the new vision is implemented successful and implemented in the 12 month
period it has the potential to put the company back into the top rankings due to offering new
products and services to customers, expanding customer base, increasing stock value, and
growing highly trained and skilled employees by motivating the current workforce.
The second issue is clearly the declining sales, which is a direct result of declining
Customers and increased competition, which is also the reason for the decline in stock value and
loss of profits. Fortunately, they can take this opportunity to become aggressive with trying to
communicate more effective with their customers, develop a strong customer relationship by
offering new products and services to customers which will expand their customer base.
Experience has shown over and over that customer satisfaction is worth its weight in gold.
Customers do not mind paying for a good product especially if it will enhance their financial
Portfolio.
The third issue is the current workforce, which is clearly a major problem. Due to the low
sales, pressures due to the changing environments the current workforce does not trust
management or believe in the products that they sell. The sales department has a high turnover
rate. A few of the senior managers have yet to embrace the new vision, so it is clear they cannot
motivate their employees to sell the plan. If the senior managers are not passionate about the
plan, how can they motivate their employees? The company can take this opportunity to develop
a plan to train their employees and grow highly skilled employees within the company. Human
Resources will have to develop a new package for employees, to include, motivational training,
incentives, job security and promote training to enhance employees skills. This organizational
change will surely move the company into it direction.
Stakeholder Perspectives/Ethical Dilemmas
At this point, I am sure the investors of Intersect Investments are outrage because of the declining profits. The company has the responsibility to the investors to protect their investment, and the companies’ reputation and integrity in the financial services industry. The company must protect their employees, which are a valued asset. The employees seem to like working for the company; however since sales are low the pressure is high, employees are getting nervous. The company has had a high turnover rate, which needs to be addressed before the implementation of the new plan. The senior managers will need to adapt the new...

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