The CEO and Executive Board at biotech company, Gene One made a decision to go through with an initial public offering (IPO) in order to increase capital and continue building successful growth in the company. The IPO announcement had a substantial effect on organizational culture, personnel, and leadership components at Gene One and could have a negative impact on Gene One’s IPO initiative transition. A solution to help Gene One in this transitional stage of development is paramount. Utilization of a 9-Step Model for problem solving, along with defense of proposed ideas, comprises much of this problem solution effort for Gene One.
Issue and Opportunity Identification
Since their introduction to the biotech industry in 1996, Gene One has developed groundbreaking technologies for eradicating disease in specific types of vegetables. This new technology has been a revolutionary development in the farming communities throughout the country. As we all know, farming is the life blood of the United States, and anything that is developed that will help increase the crop yield and reduce the amount of time and money spent to apply costly chemicals that affect the crops will definitely gain popularity.
Gene One is currently considering the benefits of transitioning a successful private company into a publicly traded company within the next five years, but must identify issues and opportunities facing the organization prior to developing the implementation plan. The issue of the leadership capability of Don Ruiz and the executive board will be very crucial in the success of this transition. Leadership is “the ability to motivate and guide people toward a goal is the essence of leadership,” (McShane & Van Gilnow, 2004, p. 1). Don Ruiz m ...