The Financial Services Industry

The Financial Services Industry

  • Submitted By: jeanine
  • Date Submitted: 11/20/2008 7:00 PM
  • Category: Business
  • Words: 3071
  • Page: 13
  • Views: 631


Gap Analysis: Intersect Investments
Jeanine Taylor
University of Phoenix

Gap Analysis: Intersect Investments
Intersect Investment, like others financial services companies, was hit hard by the events of September 11, 2001. The financial services industry has struggled since then. The industry believes to succeed, investment companies need to offer more products coupled with expert advice. Intersect Investment has resisted this change but realize their survival depends on making a major shift in the company’s strategy. CEO Frank Jeffries has established “customer intimacy” as both a value and strategic focus of Intersect Investment. Customer intimacy is “the combination of being a trusted advisor, providing exceptional service and providing services that add value to our customers” (Intersect Investment Scenario, 2008). Frank believes implementing this new model will help Intersect increase its customer base, its revenues and profitability, regain the company’s standing as one of the top financial service companies in the industry and gain Wall Street’s trust. Implementation of “customer intimacy” will require major organizational changes especially in the sales group. Frank has hired Janet Angelo to lead the change and implement the “customer intimacy’ model within the next 12 months. Janet’s predecessor did not support Frank’s philosophy and failed in leading the sales group to make the change, which has resulted in trust issues for the employees, frustration and lack of commitment to the company’s new vision and goal. “A top down approach is important for widespread company adoption of change. If management sets the mandate and fail to adhere to the objectives, company personnel can start to assume that goals and objectives are no longer important” (Critical Success Factors for Organizational Change, 2008). This paper examines the impact the lack of commitment and support of the “customer...

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