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Problem Solution: Intersect Investments

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Problem Solution: Intersect Investments

Intersect Investments has communication problems within the realm of their organization. Intersect Investments has issues concerning the high turnover rate, the miscommunications between the management and personnel, managers not desiring to align to the organization's visionary plan, and providing the professional consultations. Mr. Frank Jeffers directed Janet Angelo to implement the customer intimacy model developed by Annie Sorrento within a 12-month period. Janet has the backing of Thomas Hardy, Senior Vice President of Human Resources Department, and Joel Contino, Vice President of Marketing, while Lyn Chen has vocally opposed the new customer intimacy model. At the present, Lyn Chen is informing the staff to exert less energy with the current customers and exercise more vigor to external sales.

Intersect Investments discovered in order to continue providing current customers and expand the client base, customer intimacy was in order. "Customer intimacy starts with leadership. Leaders set the tone for the organization to pay attention to and prioritize the needs of customers over competing, yet alluring internal demands. The profile of a customer-intimate executive can be organized around four key dimensions: Mindset, Face Time, Mobilizing, and Decisions" (Aligna Solutions, 2005).

Intersect will investigate ways to bring the means of customer intimacy through benchmarking Gateway Inc. and Wachovia Corporation. Both corporations excelled at changing the attitudes of leadership and personnel, which changed the methodology that accomplished placing the client first. Once Intersect investigates both corporations, looking into the issues at hand, stakeholders' perspectives, alternative solutions, then Intersect will decide how to meet the end-state goals.

Benchmarking

"Benchmarking describes the overall process by which a company compares its performance with that of other companies, then learns how the strongest-performing companies achieve their results" (Kreitner, R. & Kinicki, A., 2005, p. 678). Intersect Investments could benchmark companies to gain knowledge of the foundations of organizational change that increased customer intimacy of other companies. In so doing, the information provided would help establish the foundation for incorporating customer intimacy into Intersect Investments while preserving the staff presently employed by Intersect Investments. The investigation into Gateway Inc. and Wachovia Corporation provides ample information concerning how both, Gateway Inc. and Wachovia Corporation integrated customer intimacy from the top executives to the marketing and sales staff so efficiently to make them the leaders within the industries of computers and banking.

Gateway Inc.

The company, Gateway, sought to meet customer's needs through customer intimacy, but like Intersect Investments, began losing the customers when the company began losing the customer intimacy.

In March 2004, Wayne Inouye became the CEO of Gateway Inc. with a new strategy that moved Gateway Inc. back to the foundation of customer intimacy on a grander scale. In closing 200 stores, slashing payroll, outsourcing manufacturing, trimming the management ranks, and moving the company's headquarters from Poway, California to Irvine, California, Inouye structured Gateway to compete with IBM, Dell, Lenovo Group, Ltd., and Hewlett-Packard for the market. In addition, Inouye and other executives stated, "good products at good prices, along with high-level customer service was paying off" (Burt, June 15, 2005).

Gateway had become a stable company through professional deals with educational institutions, government agencies, and SMBs (small and midsized businesses). Dakota State University almost did not continue with Gateway computers because of the lack of customer intimacy Gateway had shown in the past. "IT Director David Zolnowsky said it was Inouye's leadership and Gateway's customer-centric focus that ensured a continued relationship" (Burt, June 15, 2005).

Ed Coleman took the reigns at Gateway Inc. in September 2006 and vowed to continue the customer intimacy in the professional and personal markets. This continuation of customer intimacy is seen in the troubleshooting arena. One call to the technical support or the online technical support shows the care and concern about the customer from Gateway. Technical support personnel treat each call as a family member needing assistance and will provide the best possible solution.

In a study by Technology Business Research, Gateway has received the rank of number one in customer satisfaction in the notebook division. Ed Coleman credits the high-level of technicians and investments in the professional market for the ranking. Julie Perron, Technology Business Research, credits the establishment of "unique reputation in the professional market for its customer service" (Gateway, February 21, 2007).

Wachovia Corporation

Wachovia Corporation had humble beginnings in 1879, when Moravian settlers settled in the town of Winston and opened a bank under the name of Wachovia National Bank. Wachovia Loan and Trust began 14 years later, and by 1911, the Wachovia National Bank and Wachovia Loan and Trust merged to become Wachovia Bank and Trust. Wachovia Bank and Trust merged with First Union to become Wachovia Corporation in 2001.

Wachovia Corporation is a corporation with customer intimacy as the corporation vision. The customer's needs are the highest priority seen in the integrity and values from the top management position through the tellers servicing the customer. In the mission statement, Wachovia Corporation states that trust and honesty are essential to the success of the company. "We do what we say we will do. We communicate with candor. We admit our mistakes. We are people who can be trusted" (Wachovia, 2007). In addition, known for respecting and valuing the individual and recognize achievement of customer's goals is through teamwork. In direct violation of an individual's role and responsibility, the self-serving interests of employees above the customer, colleague, or shareholder is unacceptable behavior.

To meet the needs of the customer, Wachovia began merging with different types of financial institutions such as Prudential Securities and SouthTrust. Wachovia is "branching out" to meet the needs of the customer who would need to run from one company to another to fulfill all the necessary transactions. The customer has the ability now to establish an account at Wachovia that covers all their transaction needs.

Situation

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