Gap Analysis: Intersect Investments

Essay by siv1019University, Master'sA+, March 2008

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Gap Analysis: Intersect InvestmentsAfter September 11, 2001, the financial service market has become very volatile leading to client uncertainty and lack of trust from Wall Street. In this new market, investment firms need to offer a wide range of products and trusted financial advice. Intersect Investment has struggled to survive over the past four years and resisted making drastic strategic changes. Customer satisfaction and sales have decreased and satisfied long-term employees have become frustrated with the lack of clear sales goals.

Frank Jeffers, Intersect's CEO, has created a new vision of offering a broad set of new products and using a model of customer intimacy that will help create trust and value to the customer. Frank has hired Janet Angelo, Executive Vice President of Marketing and Sales, for her expertise in creating and implementing a customer intimacy program. Janet only has 12 months to implant this new vision whereas she has had the luxury of up to 3 years to make changes at her previous positions.

Situation AnalysisIssue and Opportunity IdentificationIntersect Investment Company's, Frank Jeffers, CEO, has given 12 months to Janet Angelo, Executive V.P. of Marketing and Sales to implement his new philosophy and strategic shift towards a "customer intimacy" model. This new strategic plan will help Intersect Investment increase customer loyalty, value and trust. This new plan has been met with resistance from Lyn Chen, V.P of Sales. The sales numbers are above the projected sale's goals and Lyn does not see a need for change even though the past years sales numbers have decreased and customer satisfaction has declined over 10%. What has help in this decline of sales and customer service has been the "hit and run" sales tactics implemented by Lyn. Lyn has directed her sales team to increase sales calls and sales meetings...