Intersect Investment Benchmarking Essay

6380 words - 26 pages

Intersect Investment Benchmarking PAGE \* Arabic 22
Running head: INTERSECT INVESTMENT BENCHMARKINGIntersect Investment BenchmarkingUniversity of PhoenixMBA 520 - Transformational LeadershipProfessor Michael SawyerNovember 5, 2007Intersect Investment BenchmarkingLike many others in the financial service industry, Intersect Investment Company has struggled since September 11, 2001. In the search for a solution to their problem, it will be important for Intersect to conduct benchmarking research. The following is an analysis of benchmarking data from 10 companies that have successfully or unsuccessfully navigated through similar situations. Following the analysis, the initial benchmarking material is provided. The benchmarking data along with the analysis can be used to develop alternative solutions for Intersect Investment Company.Concept AnalysisSince 2001, the financial industry has been a volatile climate, with firms "struggling to keep both their clients" trust and Wall Street's credibility," (Intersect Investment, 2007, p.1). Intersect Investment has had their share of issues in the past year as their revenue targets have not met goals, sales employee turnover is up 25%, customer satisfaction has declined 10%, and customer attrition has increased to 25% a year (Intersect Investment, 2007).Intersect Investment has identified several issues within the organization and needs to make adjustments quickly in order to reverse their sales, customer and employee satisfaction trends. Intersect Investments should conduct benchmarking research to determine how to best identify changes that need to be made, analyze the implications of different leadership styles on the change management process, evaluate the influence of leadership on management practices, select leadership styles for a given situation, analyze the factors that contribute to a long-term commitment to change, and appraise future leadership challenges. "Old practices will not be effective in a future that requires innovation, fast responses, horizontal relationships, high engagement levels and optimum performance from assets that are not owned by the company," (Forman, 2007).Several change models in organizations consist of the new and old styles, horizontal, hourglass and virtual organization set up. An organization is a system of consciously coordinated activities or forces of two or more persons; people coming together for a common cause (Kinicki & Kreitner, 2003). The organizations of the past did not address technology concerns and tended to be slow and inflexible using a pyramid-shaped organizational matrix. The new organizations are more flexible, focus on quality, cost and speed, which is apart of total quality management (TQM). TQM is customer focused, based on continuous improvement and leverages cross functional teams of employees to tackle their issues.Organizational patterns within companies can be horizontal, hourglass and virtual in set up. The horizontal organization...

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