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Problem Solution: Intersect Investment Corporation
A Company Focusing on Customers
Uversity of Phoenix
October 3, 2007
Instructor:
Benchmarking is a great tool to help a company decide if a potential solution is worth pursuing. A benchmarking company will be identified, then some possible solutions and rationales for those solutions will be identified. Risks will then be assessed as well as the rationale for risks. Finally, some objectives will be identified.
Benchmarking Example
A good example of a company that was successful during change is Lakewood Publications. Lakewood Publications had to deal with three takeovers within a sixteen month timeframe. Despite the upheaval, Lakewood was able to retain eighty-eight of the eighty-nine full time employees. Lakewood was successful during times of change because of four factors. First, Lakewood built upon a culture that had as its basis a shared vision as well as shared incentives. “Everyone was asked to participate. We received more than 450 inputs from people through interviews, questionnaires and the use of an organizational development consultant. We argued things through and re-examined the company. That vision statement was, and is, the glue: something to go back to that acts as a benchmark, a guideline and a piece of hope. We also negotiated ‘stay’ bonuses--equal for all full-time associates who stayed through the third sale” (Secord, 1996, p.47). Intersect Investments can learn from Lakewood by applying the concept of getting inputs from employees. Employee input helps the employees own the changes. “In general, employees’ percep ...