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Problem Solution: Intersect Investments
The financial services industry has not been the same since September 11, 2001. Many financial firms have struggled to retain clients and Wall Street's credibility. To be successful in the investment-industry, investment companies need to offer services that are competitive along with offering professional, skilled advice. Intersect Investment, a financial services company, has been struggling in the industry due to internal and external forces for change (Kinicki & Kreitner, 2003). Intersects' Chief Executive Officer, Frank Jeffers, has announced a new corporate vision to turn the organization around. The Intersect Investment Company is in a situation where it has seen decreased sales, and increased turnover in its employees and customers. Frank Jeffers vision is to move the company to a "customer intimacy" model of doing business. In order for Intersect Investment to be successful in a change initiative, leadership must analyze the situation, identify the problem, and envision the company's end state. Leadership must then determine and analyze alternative solutions, mitigate risks, chose and implement an optimal solution, then decide on the project's success by they end of one year.
Situation Analysis
Issue and Opportunity Identification
If it were not for preparations for Y2K, the financial industries would have suffered greatly do to the effects of the events of September 11, 2001. Although prepared to prevent the loss of data (Makinen, 2002), "many financial firms [are still] struggling to keep both their clients' trust and Wall Street's credibility" (University of Phoenix, 2006).
Over the span of Intersect Investment's history, there have been ...