Problem Solution: Teratech
...Solution: TeraTech
The purpose of this paper is to systematically dissect the situation at TeraTech. Through the use of the situation background, issue identification, opportunity identification, stakeholder perspectives, problem definition, the desired end-state goals can be defined and acquired. This information can then clearly support a defined problem statement.
Situation Analysis
Issue and Opportunity Identification
Intersect Investments is in the financial services industry. Intersect Investments has been struggling to stay afloat competitively since September 11, 2001. Success is rare in the industry. The CEO, Frank Jeffers has devised a new vision in hope of inspiring his employees as well as current and future customers. The new vision is: "Provide a broad set of products and services to consumer and small business customers using a model of customer intimacy that will build long-term relationships based on trust and value to the customer." (University of Phoenix, 2006).
The CEO understands that change must happen throughout the organization. He has fired the Executive Vice President of Marketing and Sales because the person was not on board with the new vision. Frank would like to improve Intersect Investments' brand image through the new "customer intimacy" model. Other goals are to establish long term customer relationships as well as gain the trust of Wall Street. (University of Phoenix, 2006).
In the Intersect Investments Scenario, the values and ethics do not appear to be aligned within the agency. Firings, low job security and the general frustration within the organization do not support workplace values and ethics. Give opportunities to feel valued and have direct input. "Values represent stable, long-lasting beliefs about what is important in a variety of situations that guide our decisions and actions. They are evaluative...
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