Problem Solution: Intersect Investments
Ever since September 11, 2001, Intersect Investment has been in a volatile climate. They are barely keeping their head above water and their customers are losing faith in them and Wall Street. Employee turnover is up 25% and customer satisfaction is down more than 10%. Up until now, Intersect has refused to make any major changes. Frank Jeffers, CEO, has finally come up with a vision hopefully, to get Intersect out of their rut. The 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."
Issue and Opportunity Identification
Intersect is faced with several challenges. The new EVP will have to convince the marketing and sales staff that this new vision will work. They do not have faith in Intersect to implement and succeed at this new vision. Janet Angelo, EVP, only has 12 months to make this happen. In order for this new vision to be successful, Intersect must improve its brand image and establish long-term customer relationships. Janet Angelo was hired as Executive VP of Marketing and Sales. Frank Jeffers, CEO, hired her because she has successfully implemented the “customer intimacy” model at two other organizations. Although, the task is not easy, Janet’s perception of expectancy is high because of the following factors: Self-esteem, self- efficacy, previous success at the task, and information necessary to complete task. (Kreitner & Kinicki, 2004, p. 34) “An expectancy, according to Vroom’s terminology, represents an individual’s belief that a particular degree of effort will be followed by a particular level of performance,” (Kreitner & Kinicki, 2004, p. 33). Janet Angelo has the opportunity to turn Intersect Investments around. This will rebuild faith in the organization from the customers as well as employees....