Gene one Problem Definition

To grow or not to grow, that is the dilemma. Many companies are often faced with this challenging decision. The consequences of this decision may be the overall success or failure of the organization. Change is often necessary to create opportunities for growth and profitability. In fact, change is required for companies looking to grow the business (Andersen, 2005). Such changes may include modifying the existing culture of the organization and the company's leadership philosophy. McShane and Von Glinow (2004) define organizational culture as the set of core values, beliefs and behaviors shared by the members of an organization. Culture determines how formal or informal an office is, how much emphasis is placed on rules and regulations, how approachable senior management is, how problems are tackled and successes shared, etc. It is important, particularly in times of change, for companies to have a clear sense of who they are, what they stand for and what behaviors their people must exhibit for the organization to be successful. Having a clear vision has a positive impact on the organization and its employees. Having a strong sense of who the company is and what it stands for promotes an environment where people demonstrate a commitment to the company's core values, such as providing excellent customer service, being dedicated to quality, acting with integrity, and showing respect for each other. These values keep the company on course, regardless of the changes and challenges that are faced. Core values enable the company to not just weather the difficult times, but to come through them an even stronger organization. This paper explores the challenges and opportunities faced by Gene One and identifies end state goals used to measure success. It will show the benefits of revamping the existing culture of an organization in an effort to drive business results and experience growth and profitability.

Gene One, faced with increasing demands in the biotech industry, is challenged to grow the business 40 percent per year for three years, become a publicly traded company, raise capital and develop new products. The company has experienced rapid growth, growing annual revenue from $2 million to $400 million over its first eight years. The CEO and Executive Board of Gene One are implementing the strategy to become a public company in order to gain access to the much needed capital for new product development and marketing. This strategy is based on the realization that the company must take advantage of the growing interest in biotechnology in order to survive economically and become a leader in the industry.

The primary challenges for Gene One in the scenario include the experience level and leadership capabilities of the senior leadership team regarding IPOs and the communication plan that will be used to convey this new strategy to the employee population. None of the senior leaders have any experience with IPOs. Charles Jones, the Marketing Officer, lacks attention to detail and has yet to put a marketing infrastructure in place for the organization. Greg Thoman, the Chief Human Resources Officer, has not focused on training and development for the employee population which limits the opportunities to grow the business. Teri Robertson, the Chief Technology Officer, seems more interested in solely doing research as opposed to developing new products in an effort to raise capital. Overall, the leadership team lacks the experience and, in some cases, the motivation and focus to take the business to new heights.

Employees at Gene One have grown accustomed to the existing organizational culture. The

changes on the horizon may cause internal problems such as turnover if the new vision and strategy are not communicated timely and effectively. Change management is the skill most needed to ensure that this organizational change opportunity is received and implemented with

enthusiasm, as opposed to the panic and doubt referenced by Greg Thoman.

The opportunities for Gene One revolve around becoming a publicly traded company, realizing growth targets that will make the company an industry leader, and gaining

capital for new product development, advertising and marketing. The benefits in becoming a public company include the following (http://www.shellstockreview.com/ssrBenefits.htm):

* Public companies are valued higher than private companies

* Making acquisitions with stock is easier and less expensive

* Stock and stock options are useful in attracting quality employees

* Employee stock options have more value

* More liquidity for founders, minority shareholders, and investors

* Added prestige and visibility with customers, suppliers, employees and the financial community

Becoming a publicly traded company will provide Gene One with credibility and capital. The credibility will lead to stronger brand image and an increased customer base. The capital investments will allow Gene One to develop new technology breakthroughs and innovative products based on current technology. By increasing the company's