Home > BUSINESS > Intersect Investments >

Intersect Investments

This is a case study of Intersect Investments that addresses several issues including the process of "Generic Benchmarking," two companies that
led their organization in a similar situation through a similar change and what their results were.

Details

Citations 6

Citation Style APA

Sources 6

Pages 6

Price: $24.00

From the Paper

Change and Change Management According to James Gibson John Ivancevich and James Donnelly intheir book Organizations Behavior Structure Processes change isusually both stressful and difficult In business the more radical thechange the more resistance can be expected The more directly a changeaffects an employee the more likely they are to oppose actively orpassively that change The more radical the change the more carefulmanagement must be about how and when the change is made In business change often comes in the form of

Retrieved May 17, 2 6, from United States Department of Defense Web site: http://www.dod.mil/comptroller/icenter/learn/bestprac.htm(2 6). Change must always be carefully managed. Change and Change Management According to James Gibson, John Ivancevich, and James Donnelly intheir book: Organizations: Behavior, Structure, Processes, change isusually both stressful and difficult. 1st ed. Identifying the Root Cause of Talent Loss. A bank realized that significant growth depended not only onacquiring new customers but also on expanding services with existingcustomers. The company was especially sensitive to the loss ofemployees in whom the company had made large investments in training. Knowing Your Workforce as Well as Your Customers. Diagnosing the problem2. In business, the more radical thechange, the more resistance can be expected. Barriers to effective change include unexpected changesin the external conditions, a lack of commitment by employees forimplementation of the change, or insufficient resources assigned to thechange. Novak writes that the firststep in the change management process involves communication. According to an essay published on the Department of Defense website,a benchmark is a standard of performance. Changes that fail tend to de-motivate employees. Analysis showed that locations with long term employeesperformed best in terms of productivity and customer loyalty. Novak states that changes should not be declaredpermanent until they have been field tested and any necessary adjustmentshave been made. Also, employees affected by a failed change effort tend to beskeptical about future initiatives, irrespective of how much support thenew change has from management, or how necessary the change is to theorganization (Recklies, 2 4). Develop clear goals and performance measures . Resistance should be seen as productive tothe extent that it forces management or their change agent to considerdifferent issues from different perspectives. Recommendations for Intersect Investments include: . Best Practices & Benchmarking. Identifying the type of intervention necessary3. Retrieved May 17, 2 6, from Recklies Management Project Web site: http://www.themanager.org/Strategy/change_ agent.htm(2 ). However, thebank was paying a premium for new hires. Thefirm wanted to know why employees were leaving and how to address theproblem. Retrieved May 17, 2 6, from Mercer Consulting Web site: http://www.mercerhr.com/successstory.jhtml/dynamic/ idContent/1 5782 ;jsessionid=GKWEECB1PZFMWCTGOUGCIIQKMZ QUI2C According to an essay by Dagmar Recklies published online on theRecklies Management Project website, many changes do not produce theexpected results. Novak writes that participants should be asked to either accept theproposed changes or share their concerns, observations or objections. Unfortunately, basedon rules developed by their employer, salespeople at Intersect do not havetime to develop the kinds of relationships that inspire trust and reducecustomer turnover. Novak explains that change management involves a full lifecycle, starting with a problem, leading to suggestions and ending with anaudit of the changed process to validate its effectiveness (Novak, 2 4). Make certain that processes are linked to the goal of improving customer satisfaction . (2 4). mercerhr.com/successstory.jhtml/dynamic/idContent/1 58 (2 6). Invest in employees recognizing that organizational success occurs when employees who have the right training, tools, incentives, and accountability. Organizations: Behavior, Structure, Processes. Theydescribe a change agent is a person who enters an organization for thepurpose of making or facilitating change. Organizational factors reflectdifferences in organizational design and practices that tempted talentedemployees to change employers. (1994). This analysis resulted inaction plans beginning with the new employee orientation process andcontinuing throughout each employee's tenure with the company (2 6). Make certain the performance measurements support the company's strategic goals . Other concerns for Intersect Investments involve the fact that thecompany is sending mixed messages to employees and customers. They suggest this four step modelas a blueprint for effective change management:1. Change agents need to getindividuals affected by the change involved and to ensure their support andcommitment. What Makes a Good Change Agent? This approach is also de-motivating anddemoralizing, and for this reason this no-nonsense approach to changemanagement should not be used. Network Computing, 15(24), 67-69.Recklies, Dagmar (2 1). Organizations thataccomplish a particular activity at the lowest cost or the highest qualityor the most efficiently are considered to be the Best-in-Class (2 ). Mandating change rather thandiscussing it is stressful. Whenconcerns and objections have been addressed, the proposed change should bedocumented in writing. Evaluating the results of the change initiative to determine whether the direction and magnitude of the change made was adequate and achieved the desired results (Gibson et al, 1994). Managing the implementation process4. Financial incentives should motivate employees to support efforts that are consistent with Intersect's long term goals and vision . Retrieved May 17, 2 6, from Mercer Consulting Web site: http://www. Get Right With Change. The Mercer Consulting website included another example of how othercompanies successfully managed challenges similar to those facingIntersect. The solution involved a strategic retentionanalysis in which statistical analysis of external, organizational, andindividual factors contributing to talent loss were examined. This allowed the bank to retain existing talent and toattract new talent (2 6). Not surprisingly, high-performingemployees were leaving at an increasing rate. There have been failedinitiatives leading to skepticism about any new change initiatives. Intersectwants to develop customer intimacy, but high turnover among its salesemployees results in high customer turnover. The more radical the change, the more carefulmanagement must be about how and when the change is made. Irwin, Inc.Novak, K. The more directly a changeaffects an employee, the more likely they are to oppose actively orpassively that change. After benchmarking againstother employers, Mercer's recommended solution was to strengthen careertracks for high-performing employees and expand variable compensation forall employees. The mixed message being givento employees and customer extends to the idea that exceptional servicerequires a significant time commitment to customers. Conclusion: Part of the process of change management involvesmanaging resistance to change. The individualsgiven responsibility to implement change are often also dissatisfied withthe level of support or lack of support they received from subordinates andsuperiors. Burr Ridge, IL: Richard D. In an article by Kevin Novak published in Network Computing(2 4), Novak suggests that change is essential to meet evolving needs.However, if change is not managed properly it can create inefficiencies andquickly harm employee productivity and morale. External dataincluding benchmarking assessed the company's vulnerability to the effectsof changes in demand in local labor markets. In business, change often comes in the form of a directive of anannouncement rather than following in depth consultations or discussionswith employees. Exit interviews did not yield the information that would helpmanagement correct the problem. Anotherproblem at Intersect is disputes and disagreements among managers,including some of the company's senior managers who are expected to act aschange agents. Employers should remember that a willingness to listen to, andto consider employees' comments and concerns suggests the average employeethat management is concerned about the effect of the proposed change, andthat management willing to look for other ways to achieve their goals. According to an essay published on the Mercer Human ResourcesConsulting website, a Fortune 5 telecommunications firm was losingtalented employees. Gibson et al suggest that a better approach is one in whichnew ideas are introduced, discussed, and debated before changes occur. While the bank understood the business opportunities it had, thebank did not understand how to make its employees the cornerstone of itslong term success. Carefulcommunication will help identify concerns, problems, oversights andobjections. Intersect Investments faces a number of challenges in managing thechange that will result in Intersect employees being thought of as trustedadvisors by customers of Intersect Investments. Benchmarking helps organizationsto identify standards of performance in other organizations and to transferthem successfully into their own organization. There is clearly cultural resistance to the desiredchanges as well as unclear goals and conflicting performance measurements.Equally troubling involves the fact that financial incentives do not seemto be aligned with the change Intersect Investments wants and needs tomake. Individual factors include job assignments,employees' career progress, and earnings growth. Scheduled time for a detailed discussion with affectedemployees tends to reduce both confusion and resentment. ReferencesGibson, J., Evancevich, J., & Donnelly, J.

Ask a question about this product

Also Search for Intersect Investments in all categories

Related Essays

Multi-Level Governance in Europe and Germany
This paper provides an analytic framework of multi-level governance (MLG) as it exists in European states due to the convergence of national governments and economies into the European Union (EU). After demonstrating the exhibition of MLG in Europe, the paper uses Germany as a case study to show how structural and procedural reforms in the state show MLG at work in Europe and the EU.
Integrated Public Transport Network
Explores the problem and recommends strategies for the development of an integrated, intermodal public transport network for Gauteng Province, Republic of South Africa. Discusses why the problems associated with public transport planning and development in South Africa are especially challenging since the federal constitution assigns responsibility for public transport to systems focusing on the national level. Formulates a plan for the development of an integrated public transport network.
INFORMATION SCIENCE.
Defines & analyzes 6 of the most critical issues. Variety of disciplines of IS.
Intersect Problem Solution
This paper examines Intersect's problems with communication, trust, and team-building, as well as its capacity for organizational change and suggests three alternatives to remedy those issues. One alternative is selected as the optimal solution, and the paper fully details all decisions. Paper includes tables.
Benchmarks in Marketing
An examination of the problems of a fictional financial services company and its marketing probems. These problems are related to the call center industry and its benchmarks and to General Eolectic as an example of optimal implementation of Six Sigma programs.

Become a Premium Member. Buy all pre-written essays for only $2 per page! AND Get $1 of store credit for every $10 you spend!

Testimonials

This makes all the difference.

The staff and writers are true professionals. They are honest and helpful. If you order from them, you are in very good hands.

I'm so happy!

I used to have such a terrible time with writing, but not any more. This company has taken one of my most stressful college experiences and made it easy!

The Best Service Ever!

I really do appreciate Research Assistance. I'm not a good writer and the service really gets me going in the right direction. The staff gets back to me quickly with any concerns that I might have and they are always on time. Thanks a million for your excellent service.

Subjects

Show all subjects...

Intersect Investments

Related Essays

Related Pages

Your cart

Testimonials

Subjects