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Problem Solution: Gene One Essay

2784 words - 11 pages

Problem Solution: GeneOne PAGE \* MERGEFORMAT 6
Running head: PROBLEM SOLUTION: GENEONEProblem Solution: GeneOneDeanna K. HubertUniversity of PhoenixProblem Solution: GeneOneGeneOne is a biotechnology company on the verge of making some concrete decisions that would affect the future of the company. HYPERLINK "javascript:void(0);" This paper is to INCLUDEPICTURE "http://www.turnitin.com/images/spacer.gif" \* MERGEFORMAT \d review HYPERLINK "javascript:void(0);" the INCLUDEPICTURE "http://www.turnitin.com/images/spacer.gif" \* MERGEFORMAT \d situation GeneOne currently faces along with identify challenges and opportunities that may result from dealing with this problem.Situation AnalysisIssue and Opportunity IdentificationGeneOne entered the biotechnology industry in 1996 after discovering a gene technology that eradicated INCLUDEPICTURE "http://www.turnitin.com/images/spacer.gif" \* MERGEFORMAT \d in potatoes and tomatoes. No longer needing to buy products tainted by chemicals this discovery pleased consumers and farmers. GeneOne became very successful and to keep up with the growing competition GeneOne would have to keep up with competition.To remain at the forefront of the competition, GeneOne's management team believed that within the next three years they would have to go public. To be successful GeneOne needs IPO capital for new development, marketing, and advertisement. GeneOne's CEO developed a strategy with the key members in the investment community. By implementing this strategy, GeneOne hopes to establish the company as a strong opponent and prove to Wall Street and the public that GeneOne possesses the leadership and organizational competence required to succeed as a public entity. These decisions led to plenty of issues GeneOne needs to resolve in order to obtain a successful transition.GeneOne is facing both internal and external problems. Internally, the main problem is within the GeneOne employee's and management team. The employees cannot see the positive aspects of the IPO announcement. Lack of communication and collaboration exists within the team. A team lacking cohesion will seldom be successful. The management team is to be the examples of leaders. Another internal issue facing GeneOne is the organizational culture present in the company. Organizations with a strong and positive organizational culture yield better performing employees. The employees are used to doing things a certain way without pleasing the Wall Street demands. They are not interested in conducting research on a time schedule and are used to the relaxed atmosphere. Therefore, they are not willing to improve things around the organization.Externally, GeneOne would have to continuously satisfy the demands of Wall Street if it desired an IPO announcement. By making an IPO announcement in three years, GeneOne is risking everything on the hope that the IPO announcement is successful. Another external problem is that GeneOne has no backup plan. By working...

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