Intersect Investment Scenario - Gap Analysis

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Hi,

Below and attached are the answers (same answers in 2 different formats) to your question on prepare a Gap Analysis for the Intersect Investments Scenario.

Please Note: Remember that this is a study guide and to use it as such. You still need to put your assignment in your own words. You can summarize, and paraphrase the information to fit your needs but I would advise that you do not turn it in word for word as your own work or you risk plagiarism. I hope this helps you with your studies.

Thanks,
Fariba
OTA # 105428

Gap Analysis: Intersect Investments

Financial services firms have been facing many challenges since September 11, 2001. The industry has been in a constant state of change, which has kept it unstable and chaotic. This unpredictable environment has left many financial firms straining to retain both their clients' trust and Wall Street's standing with investors. Intersect Investment Services is one such firm which during the past four years has at times barely managed to survive. Although the firm has resisted making a drastic, strategic shift for most of that time, a year ago, Intersect CEO Frank Jeffers finally made the move toward change and identified a new vision to both spur revenue growth and support customer retention. This vision is to "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." To realize this vision and the growth that can come as a result, it is important for Intersect analyze its issues through the 9step problem solving model, frame the right problem and identify the appropriate end state vision and goals.

a. Describe the situation. What is the situation? What challenges exist? What opportunities exist? How are the challenges and opportunities different at different levels in the organization?

Situation Background

Intersect Investment has been a successful financial services institution for more than twenty-five years. Since its inception, the company has attempted a myriad of changes to adapt to the changing needs and challenges of the financial services consumer. Frank Jeffers the company's has steered the company through some difficult times and developed and attempted to implement many of those much needed changes, but with limited success. Since the tragic events of September 11 delivered a blow to the financial services industry that caused its current instabilities, Frank has become aware that Intersect has been having difficulty keeping a balance between profitability and building trusting relationships with its clients. Overcoming these challenges and bringing the company to stable profitability have motivated Frank to initiate some drastic changes in the company's customer relationship model from traditional sales to "customer intimacy". To implement the change, Frank has hired Janet Angelo as the new Executive Vice President of Marketing and Sales. Janet has experience converting three other companies' sales departments to the "customer intimacy" mode from traditional sales; however, Janet must implement the changeover at Intersect Investment Services in one year's time, half the amount of time it has taken her at other companies. To implement the changeover successfully, Janet must first identify the issues that have an impact on her efforts.
Issue Identification
There are several issues that can influence Janet's efforts toward changing the company's customer relationship model, the first of which is the company's sagging sales. Intersect has fallen short of revenue targets in the past year and customer satisfaction has declined by more than 10 percent. Secondly employee turnover is up 25% in the Sales Department. There is ...