Gap Analysis: Intersect Investments

2280 words - 9 pages

Gap Analysis: Intersect Investments PAGE 1
Running head: GAP ANALYSIS: INTERSECT INVESTMENTSGap Analysis: Intersect InvestmentsUniversity Of PhoenixTransformational LeadershipMBA520Mike SawyerNovember 18, 2007Gap Analysis: Intersect InvestmentsMany companies in the financial services industry have found it difficult to sustain growth. Unless they can increase their customer base by offering a wider variety of products or services, their business will fail because they will be unable to withstand the competition. In an attempt to remain competitive, Intersect Investment Services has identified a new vision. The new vision hopes to build long-term relationships with their customers. The Executive Vice President of Marketing and Sales has been tasked with creating and executing a plan to turn the organization around within 12 months. The changes are being met with much resistance. Intersect Investments must identify the relationship between external and internal forces and resolve this issue found to allow the move towards reaching their goals.Situation AnalysisIssue and Opportunity IdentificationIntersect Investment Services has a goal to grow their business by adding new customers, retaining current customers and increasing the amount current customers spend and invest with their organization. Intersect hopes that this goal will be achieved within a 12-month period. Intersect can grow its business and become a stronger organization by using strategic planning. The plan will require significant changes within the organization. "A strategic plan outlines an organization's long-term direction and actions necessary to achieve planned results. Strategic plans are based on considering an organization's strengths and weaknesses relative to its environmental opportunities and threats." (Kinicki & Kreitner, 2003, p. 679). The plan to implement the 'customer intimacy/trusted advisor' approach has been met with resistance from many employees and leaders within the organization. The sales department expressed their resistance during one of the meetings while other employees fear layoff. As a result of the resistance, tension, stress uncertainty and anger can be seen throughout the company. Resistances to changes are emotional or behavioral responses to pre-conceived threats to routines. Intersect should take this opportunity to communicate effectively the need for the change and the benefits and advantages that the changes will bring to the organization by informing the employees about their vision and strategic plan.Intersect must recognize their employees need for extrinsic motivation. "Extrinsic motivation drives people's behavior when they do things in order to attain a specific outcome. In other words, extrinsic motivation is fueled by a person's desire to avoid or achieve some type of consequence for his or her behavior." (Kinicki & Kreitner, 2003, p. 276). Workers at Intersect are not motivated to go the extra mile needed to make the vision a...

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