Gap Analysis: Intersect Investments

Gap Analysis: Intersect Investments

The overall financial services industry has been in a state of turmoil since September 11, 2001. Several of the financial firms have been struggling to keep both their clients trust as well as Wall Streets credibility. Within the last year CEO Frank Jeffers has identified a new vision in hopes to steer the company in a new direction. This vision will hopefully improve its brand image and begin establishing long-term customer relationships. If successful this vision will re-establish trust within Wall Street. In the past, Intersect Investment Services has barley been able kept their head above water. Within the organization several members of the management team don't agree with the new model there for causing issues internally and externally. With implementing the right concepts Intersect Investments should be able to get back on track and become profitable again.

Situation Analysis

Issue and Opportunity Identification

With the financial services industry constantly changing Intersect investments was resistant to change. They had members on the executive team that didn't support new changes. Therefore causing Intersect to barley maintains their position in the overall industry. Intersect was in the top five but no longer maintained there standing due to the lack of cooperation internally. If intersect is going to succeed in the marketplace they will simultaneously need to grow their business in terms of adding new customers, retaining current customers, and increasing the amount current customers spend and invest with us. Intersect will also need to change the attitude of its employees.

Janet Angelo, Executive Vice President of Marketing and Sales has the opportunity to make the necessary changes within her organization to reflect on a positive note that her reps are trusted advisors. Janet will have to remove the negative image that previously existed. She needs to make sure that she has the right person in the right position. The best way do this is to lead by example. Janet has many obstacles that are facing her but with strength and determination she should be able to turn the organization around, however she does face several time constraints.

Lyn Chen has fallen short of revenue targets recently. This is due to employee turnover being up by 25% and customer satisfaction has declined by more than 10%. Employees are becoming frustrated and fell that the sense of loyalty is gone. Several of the employees feel as though management is sending mixed messages about what they want and expect from their employees. Lyn now needs to make sure that the vision and the direction that the company is heading in is clear and that the same message that management that is sending out is the same and clearly defined. At point there is no room for mistakes. Janet's message is that the sales employees must establish relationships as trusted advisors with current and perspective new clients or customers. Once this is established customers will stay with Intersect Investments and there should be an increase in revenue.

Stakeholder Perspectives/Ethical Dilemmas

Frank Jeffers CEO "has been with Intersect for 25 years, successfully leading the company through several restructuring efforts involving strategy and focus change. A highly regarded boss and excellent leader, Frank sets clear goals, and trusts his senior staff to develop plans to realize them. Despite his high expectations, Frank is fair and his senior leaders are loyal; most have been with him for at least 15 years. But recently, Frank was forced to let go the Executive Vice President of Sales and Marketing, who continually failed to meet Frank's objectives. Now, Frank is still anxious about the changes that still need to be made in the sales department."

Joel Contino, Vice President of Marketing. "Only two years into his position, Joel was handpicked for the job by none other than Frank Jeffers, who has known Joel for more than 15 years. Joel has extensive knowledge in branding, marketing and services development, having worked for a large IT company that moved from a product-based to a solution-based selling approach. In fact, many Intersect employees believe Joel was behind Frank's decision to convert Intersect to a "customer intimacy/trusted advisor approach."

The customers are stakeholders because "The customer want new products that will benefit them as well as the overall industry", and Lyn Chen Vice President of Sales 'has the ability to maintain a top industry rating in customer satisfaction was matched only by her ability to inspire and motivate sales teams to meet or exceed goals. As a result, she has risen rapidly through the Intersect ranks. But in the past year, Lyn has fallen short of revenue targets, sales employee turnover is up 25 percent and customer satisfaction has declined by more than 10 percent. Nonetheless, Lyn has been vocal about her opposition to a change to a "customer intimacy" model.

End-State Vision

Intersect Investments Services will develop a customer intimacy model in order to establish employee and customer loyalty. You can't have one without the other. Intersect will also conform to the demands of the consumer by reaching out to pursue new products. By aligning the business in a new direction, it will allow for Intersect to regain its position in the financial services industry.

Gap Analysis

It is clear the traditional-selling method of business