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Problem Solution: Gene One Essay

3394 words - 14 pages

Problem Solution: GeneOne PAGE \* MERGEFORMAT 16
Running head: PROBLEM SOLUTION: GENEONEProblem Solution: GeneOneAmber D. MooreUniversity of PhoenixProblem Solution: GeneOneAs an up and coming biotech company, Gene One is faced with many issues on their journey to becoming a publicly traded company. The company has previously produced groundbreaking gene technology that has eliminated the use of pesticides on tomatoes and potatoes. In order to keep up with the industry, the CEO and the board believe that going public within the next three years is necessary for Gene One. Implementing their IPO strategy will fulfill their growth targets and prove the organizations capabilities. These issues include Gene One's organizational structure, benchmarking capabilities, lack of IPO experience, and the need for new product development.Situation AnalysisIssue and Opportunity IdentificationFor Gene One, their main goal is to become a publicly recognized entity. Five issues identified are the need to modify the organizations culture for future growth, conduct benchmarking to determine best practices, gain knowledge on IPO procedures, create new technologies, and realign the organizational structure. These concerns were derived by evaluating the company's culture, operations, and leadership concepts. By comparing the risks, goals, and ultimate outcome of Gene One, the benefit and the risk of IPO becomes apparent.Due to the amount of employee growth and new company goals, the organizational culture at Gene One needs to be modified and aligned. The company needs to develop their newly recruited talent and create a corporate culture that is conducive to the growing business. A strong culture will help an organization adapt to the new public environment. Currently, the culture is competitive and goal-oriented. The culture needs to be conductive to the future growth of the business. Organizational culture is defined as being "shared assumptions, values, and beliefs governing the way employees within an organization think about and act on problems and opportunities" (McShane & Von Glinow, 2004, p. 16). By setting the culture before going public, Gene One will be able to establish shared values and beliefs to help cope with its new and upcoming environment.With little to no experience, Gene One needs to identify some of the best practices in order to have a successful IPO. Benchmarking needs to be conducted on other publicly traded companies to discover desirable techniques and skills. "Generic benchmarking can generate significant payoffs to an organization looking for the solution to a problem" (University of Phoenix, 2008). By identifying best practices, the company can continue to release new products and stay ahead in the industry.The leadership at Gene One is lacking in IPO knowledge and experience. They will need assistance in procedures and regulations for becoming a public company. "One of the fastest and most powerful ways to acquire knowledge is...

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