Problem Solution: Gene One Essay
Problem Solution: Gene OneThe Gene One is a $400 million dollar company that starts at a small and now wants to grow big and will enter in to the market to be known. To go globally in the market they have to increase its annual rate to 40 percent make some strategy in marketing and develop new lines of products. However, along the way the company fails to realize the limitation of his team. There are requirements necessary before going to IPO. Now start of some issue regarding on this that affects relationship of individual.
The issues are so important to focus like the qualification of the board that questionable because of lack of experienced in the field of accounting and this is necessary to the requirement of Sarbanes-Oxley Acts (SOA). The infrastructure implementation, never implemented in the Gene One company is needed to precede the plans. The management and employee relationship the issue in going to IPO never discuss thus creating tension inside the company. The redefining of management position to run smoothly endangers other team leader. The financial issue needed in marketing and developing new products.The above are all the issues that need thorough thinking and serious decision. The research identifies opportunities for the company and the stakeholders concerns and the ethical dilemma that they are facing.
These also make problem statement to make a goal and vision realized. The list of alternative solution was also cited and was rank accordingly. The alternative solutions was assisted and mitigated for the future occurrence of the problem.
The optimal solution was also there to help Gene One realized the projects. The pull implementation of plan was also given importance the road map to success. The result was evaluated according to their qualitative and quantitative and how the company gains opportunity from the entice investor.Finally, the researcher gives her point of view the knowledge she have gain in doing the research.Situation AnalysisIssue and Opportunity IdentificationThe Gene One management wants to comply the demand in Biotechnology that the Wall Street cited to be fast growing. To established that the company is a strong competitor and has the leadership and organizational capabilities to succeed as a public entity. They also realize in coping the demand there must be a target of 40 percent annual growth.
To be able to hit they will launch in the public within the next three years.In addition, the Gene One is going to implement IPO to have additional capital for the new development, advertisement, and marketing to remain successful. However, no Board members experience in serving with the CFO or CPA in a firm. To comply the (SOA) the Sarbanes-Oxley Act to proceed in developing the company. The players, Charles Jones who fail to implement marketing infrastructure.
These need to implement for the company to prepare in going to public. Management /employee relationship that fail to inform other employee about the IPO and Teri’s retrieval in pursuing going to the public .Need to prevent for the company fulfill the plans outlined in their proposal.The redefining management positions to make operations runs smoothly. They lack financial needs to make IPO happens to finalized their branding plans to help entice fresh investor. The CEO believes that it is the right time.Stakeholder Perspectives/Ethical DilemmasThe stakeholders, people who have an interest in the conduct of the business, which might include employees, customers, vendors, the local community, or even society as a whole. They would say that stakeholders have certain rights with regard to how the business operates, and some would even suggest that this even includes rights of governance.
They are the workers who are directly affected whatever the decision of the company and the head of the personnel. They usually encounter dilemma “justice”, the principle of fair and equitable distribution of benefits and burdens. Other dilemmas are “respect” including their autonomous choices and actions and “beneficence” both the obligation to benefit others maximize good consequences. Amazing things done when all stakeholders become and active champions-but that only happens if you are, the business specifically empowers each of these groups and address their different needs and desires. (Encarta.com)On the other hand, Michelle Houghton as a Chief Financial Officer who invested in the Gene One feels that she’s part of the Gene One therefore exercise her rights over other. On Charles point of view, should given “justice” by the team because of his connection to Biotechnology (Rawls theory of justice).
On the part of Teri, where the future of Technology is on his hand cannot be denied that is given respect by the society and the team. He is exhibiting “beneficence” the duty to do good both individually and for all. Greg Thoman plays an important role in the research area where his expertise runs on this field. He is a man of that can do everything. “Finality” can see to him the duty to take action that may override the demands of law, religion, and social customs. (stedwards.edu) John Kirby as Executed Director Board Member that is influential to the community industry that gains respect and integrity. Susan Wells as an Executive Board Member performs “social responsibility” (wikipedia.
com). Her connections to media and a decision makers gain respect in the in the political arena. Nevertheless, Both Angela Thomas and Bill Chang whose role not given recognition as vice president in the research and Chang as the instrument in marketing and development both are passionate on their field.
They struggle for equal recognition and privilege.Ethical issues can arise when companies must comply with multiple and sometimes conflicting legal or cultural standards, as in the case of multinational companies that operate in countries with varying practices. It also arise in a competitive business environment, those companies that survive are the ones that recognize that their only role is to maximize profits. On this view, the competitive system fosters a downward ethical. As in the case of Gene One where they want to increase their revenue growth for 40 percent. (wikipedia.com).Problem StatementGene One will aspire to be the strong competitor and prove that they have a strong leadership and organization capabilities to succeed as a public entity by developing new products.
Gene One will aspire to be the number one service oriented to the customer and community by providing cost-effective solutions and will encourage community involvement.Gene One is the leader in developing new technology by using research and launching IPO.End-State VisionGene One Vision StatementFor the Customer – We will add value for our customer by anticipating and identifying their needs and providing cost-effective solutions. Through excellent and efficient service, we will meet our customers’ expectations. They will see us a leader in the industry.For Our Suppliers – We will be the channel of choice for our suppliers by providing cost-effective and efficient ways to bring their products, services and solutions to our mutual customers. They will see us a leader in the industry.For Our Employees – We will provide an environment that challenges our employees to learn, grow and prosper in an atmosphere of respect and recognition.
Our employees will be proud to work for a profitable and thriving employee-owned company.For Our Shareholders – We will be the industry leader in the products and technology we offer while providing increased shareholder value at optimal risk.For Our Community – Gene One will be a solid corporate citizen and will encourage community involvement among its employees and retirees. (graybar.com)End- state Goals The Gene One will develop new products. Increase growth rate by 40 percent, launch to the public and develop brands that will entice fresh investor.Alternative SolutionsGene One will develop new product by making a research.
Gene One will make up the board by hiring experience CFO or CPA.Gene One will implement marketing infrastructure by getting a consultant.Gene One will have a harmonious relationship with employees by having a consultation.
Gene One will implement IPO by gaining capital from the public.Gene One will redefine the Management position by evaluating all the top team.Analysis of Alternative SolutionsThe First goal is develop new products rated five in the first alternative because it is true by researching you can create and develop new products. It also rated five in the second alternative because launching new products to the public would hit the target of 40 percent growth rate. In addition, it is rate five in the third alternative because by implementing IPO there can be capital to develop the products.The Second goal, increase growth rate by 40 percent it rates five in the first alternative because it is by research that the new products develop and this can increase the rate.
Rated five in the second alternative because by going to the public would mean trust and capital. It rates four in the fourth alternative because by implementing IPO new products lines develop and increase marketing strategy. Additionally, rates four in the fourth alternatives because it is by branding name we can gain the market and increase the target rate that the company desire.
The third goal, to be strong competitor rates five in the first alternative because by research new product develops and this make the company popular to the technology markets. I rates four on the second alternative because by going to the public the company would not gain trust but have supports in the community. However, it rates high five to the third and fourth mainly because by implementing IPO gain more capital that produces new products , this makes the other companies realized that Gene One company have strong leadership and great organizational set up.Risk Assessment and Mitigation TechniquesThe first thing I have done is to review the project plans and identify the areas of uncertainty and found out that there are lots to consider on continuing the plans.Second analyze this uncertainty how this can affect the performance and success of the project in terms of scope, quality, duration and cost.
Third prioritize the risk in terms of those risks that:1) must be eliminated (resolved) completely due to their extreme impact to the project;2) are important enough to demand regular monitoring and reviewing;3) are deemed to have a minor impact and will not require detailed monitoring; and4) should not be totally ignored but demand less attention. (Ministry of Sustainable Resource Management).Based on the analysis above I have created mitigation to overcome the recent uncertainty. The mitigation can solve future differences for better understanding and success implementation of the project.Optimal SolutionThe Gene One management confuse on how to solve the issue that arise while preparing the plans to implement the marketing strategy and looking for funding.
The issue foresees the weakness of the team to implement the IPO for the first place they don’t have enough experience needed requirement to make an IPO.However, the management considers evaluating the top management and hiring some experience person to do the job and replacing the existing team that once makes the Gene One on top is just a ridiculous decision.Whatever the issue are, there is always a solution to it.
The company should try to consider these different strategies:Open communication to all the concern the management should not be one sided in making the decision although it is the management responsibility to look for the best in their workers but they have also moral to consider. The stakeholders given the chance to participate or given equal treatment there would be fast implementation of the project (nwlink.com). Delegate style with a worker who knows more about the job with the collaborative team up of the person who has a little experience I think it is not hard to do solve the problem(Apply relational behavior is more about providing support to teams. Instead of hiring support the team to acquire more knowledge they in the field they are now by providing trainings (onepine.com)The most important of all is “Collaboration” where everybody wins teamwork and cooperation help achieve the goals while also maintaining relationships. You need this when you want to have a full responsibility, high level of trust, when others want others to have ownership of solutions and when the people involves are willing to change their thinking as more information is found and new options are suggested ( Lawson Human Resource ).Implementation PlanThe level of project detail included in the Implementation Plan is very general, but adequate for the purposes of providing action-oriented direction.
It is appropriate for more detail information to formulate and present in quarterly work programs. This type of implementation approach provides the Gene One with direction while maintaining flexibility and compatibility to the Gene One Strategic goals on a quarterly basis. Each quarterstaff will need to review the plan to interpret the intent of the policies, practices, and programs as a basis for undertaking projects identified in the implementation plan. This act of continually reviewing and referencing thePlan components will ensure the plan is a dynamic policy guide.METHODOLOGYThe Implementation Plan represents a consolidated list of action-oriented projects. Staffs develop this list in an evolutionary manner that describe in the following paragraph.
Staff first examined all of the policies and practices in each plan component and consolidated the policies and practices into interrelated groups. Next, staff began looking at the policies as a whole and identified common themes embodied in the policy and practice statements. Staff then began to translate the policy statements into action-oriented “implementation strategies” and translate the practice statements into action-oriented “associated projects” while capturing and consolidating the intent of multiple policies within multiple plan components. The resulting content of the Implementation Plan is action-oriented and manageable and is representative of the interrelationship between the plan components (Naperville comprehensive Transportation plan 2002).SCOPE or TIME TABLETopic column 2005 2006 2007 2008 June Oct. Jan. June October Jan.
June Oct. Jan. JuneMeet SEC requirementIdentify InvestorsBuild Brand ImageDevelop New ProductsIPO launchesLeaders responsible in implementing the plan:Michelle HoughtonSusan WellsCharles JonesTeri RobertsonGreg Thoman Quarterly the leader will prepare a work and share it with the Board and Gene One.
The development of the work plan will correspond with the development of capital needed to IPO. It understood that the development program needs an approval by the board and the CEO as part of preparing to IPO. The first work program will cover the period of June 2005 until June 2008.Evaluation of ResultsBased on the result in table 6 all the End-state goal have specific target and measured accordingly. All the end-state goal has to be review base on their needs to get accurate result in accordance with the Business Review Procedure 28 C.F.
R Section 50.6 The Department of business reviews believes that the business process provides community an important opportunity to receive guidance from the Department with respect to the scope, interpretation, and application of the antitrust laws to particular propose conduct. The Department realizes, however, that if the business review process is not timely, the value of the process, and therefore its utilization, may be diminished (usdoj.gov).The result is reliable because it is measured and time frame oriented base on the data and the target date. It also tells how many reviews needed per statement to continuously update the management and the government.
The result below shows if it is qualitative and quantitative: (Bowland-files)Quantitative or QualitativeStatementQuantitative1. Develop the product with three reviews and target date.Qualitative2. Increase in growth rate by 40 percent with two reviews per year.Qualitative3.
Gain capital from the public with two business review with the target of three reviews every quarter.Quantitative4. Develop Brand Image with two reviews every year.The reliability of the result provides an opportunity to the company that they can be trusted and cope up the demand needed by other companies. I believe that reliability will gain more investor and public trust. Effective Plant Reliability Management will provide you with a better understanding of the strategic and behavioral components of a successful reliability program, and the analytical tools available to more effectively manage your business (noria.
com)ConclusionIn making this research it taught me a lot of considerations regarding the socio cultural differences that I am going to face daily in our life. The adjustment I am going to have in myself as a human being. I learn to be leader that is democratic that measured the quantity and quality of work and group satisfactions. Being a leader I learned to accept open communication the best way to do, to have a collaborative working relationship with the people involve in the project. I learned to apply social contract theory to business, whereby companies become quasi-democratic associations, and employee and other stakeholders are given voice over a company’s operations.Generally, the different strategies mold me to be a good leader that can handle whatever consequences might come in the future.
The problem that I am going to face is not a wall but it is just a bump that can make me a better person. As a mere person or employee it taught me to listen first before making any decision that can hinder the future of the company. Be a committed person that can be trusted by the co-employee and management. The problem that arose here is a reality that is actually happen now.ReferencesBoje, D. (2000). Transformational leader.
Retrieved October 11, 2006, from http://cbae.nmsu.edu/~dboje/teaching/338/transformational_leadership.htm#burnBusiness Reviews. (2006). Antitrust Document Group. Retrieved October 13,2006, from http://www.usdoj.
gov/atr/public/busreview/201659a.htm.Conflict Management. (2006) Retrieved October 13, 2006, from http://home.snu.edu/~hculbert/conflict.
htmEffective plan Reliability Management.(2006).Retrieved October 13,2006, from http://www.noria.com/training/eprm/default.asp.
Ethical Principle. (2006). Encarta Encyclopedia. Retrieved October 11, 2006, from http://www.encarta.comEthics. (2002).
Wikipedia Free Encyclopedia. Retrieved October 11, 2006, from http://www.wikipedia.comFinality. (2006). Retrieved October 11, 2006, from http://www.stedwards.
edu/ursery/norm.htm#utilityImplementation. (2002). Naperville Comprehensive Transportation Plan.
Retrieved October 13, 2006, fromMission and Vision. (2006). Retrieved October 11, 2006, from http://www.graybar.com/aboutus/gbmission.
html.Mission Statement.(2006) Retrieved from October 11,2006, from http://www.indies.co.in/About_Miss.htmlNormative Ethical Principle. (2006).
October 9, 2006, http://www.stedwards.edu/ursery/norm.htm#utilityQualitative VS Quantitative analysis. (2006).
Retrieved October 13,2006, from http://bowland-files.lancs.ac.uk/monkey/ihe/linguistics/corpus3/3qual.htmRisk assessment. (2006).
Ministry of Sustainable Resource Management. Retrieved October 13, 2006, from srmwww.gov.bc.ca/tib http://srmwww.gov.
bc.ca/imb/3star/sdlc/8manage/risks/risk_principles.html#What%20is%20Risk%20Assessment?Situational Leadership. (2006). Retrieved October 13, 2006, from http://www.onepine.info/lead1.htmership.
Workforce measurement system. (2006). Lawson Human Resources. Retrieved October 13, 2006, from www.washington.edu/regents/meetings/meetings06/june/items/fin/f-8 Respect.
(2006). Retrieved October 13, 2006, from http://www.itsnotok.org/whatisrespect.html.
Table 1Issue and Opportunity IdentificationIssueOpportunityReference to SpecificCourse Concept(Include citation)ConceptGene One’s aspire to use IPOGene One can develop new product.“A transformational leader recognizes and exploits an existing needs or demand of a potential follower… (In addition) looks for potential motives in followers, seeks to satisfy higher needs, and engages the full person of the follower.”(Boje 2000)Transformational leaderGene One wants to go to the public to gain social contract.To gain capital needed for marketing and product development.“Social contract theory to business, whereby companies become quasi-democratic associations, and employee and other stakeholders are given voice over a company’s operations. ( wikipedia encyclopedia)Social contractMarketing infrastructure implementation for productionFor the company to be prepared in going to the public“Production in the company deals with the duties of a company to ensure that products and production process do not cause harm “(wikipedia encyclopedia)Business ethics ProductionManagement/employee relationship in doing equal right thing.To fulfill the plans outline in the proposalEquality giving equitable distribution of benefits (Encarta.com)EqualityGene One wants to redefine the management positionMaking operations runs smoothly.
Respect for person includes autonomous choices and action.RespectGene One proposing growth rate of 40 percentGain respect from the Board as a strong competitor.Respect taking your partner’s feeling into consideration. (itsnotok.org)RespectTable 2Stakeholder PerspectivesStakeholder PerspectivesStakeholder GroupsThe Interests, Rights, andValues of Each GroupMichelle HoughtonChief Financial Officer, invested everything she had into Gene One and, as a result, feels a strong sense of ownership and emotional attachment to the company. She is honest that earned her a credible reputation from the leadership team.Charles JonesMarketing Officer, Made Gene One a brand Image that is synonymous with technology innovation, future of America.
Smart risk-taking and has connection on Biotechnology. He is a man with integrity.Teri RobertsonMarketing Officer, part of original start-up team, and niece of the CEO. His doctoral research made Gene One a successful one highly competent, talented, and responsible for technology and development. He is a man that earned respect to leadership teamGreg ThomanChief Human Resource Officer, he is responsible in putting staff to Gene One with talented researchers and innovative product developers. Known for his “can do attitude”.John KirbyExecutive Director Board Member, influential member in the industry community.
A man with integrity for what he wants he take for no answer.Susan WellsShe is an Executive Board Member. She is a woman that earned respect and influential with myriad connections in the media and political communities.
She is expert on last minute reverse decision.Angela ThomasVice President of Technology Research Labs, as a researcher she is passionate and hard worker.Bill ChangHe is an instrument in the development and marketing of new products.
He is self-motivated and passionate about his work.Ordinary EmployeesThe groups that are not usually involve in the decision-making. These groups usually not given the opportunity and privilege that the top leader enjoys.Table 3Analysis of Alternative SolutionsTable 4Risk Assessment and Mitigation TechniquesRisk Assessment and Mitigation TechniquesAlternative SolutionRisks and ProbabilityConsequence and SeverityMitigation TechniquesBy hiring CFO or CPA· Could create negative impact to the team· Some board member would be replaced· Additional cost· low· high· high· Use a delegate style with a worker who knows more about the job.· The employee needs to take ownership of her/his job· Open communication(nwlink.com)By evaluating top team· Create misunderstanding between the management· Some maybe replaced· Some might resigned· high· high· high· Open communication· Conflict management. Confront conflict constructively to minimize impact to self.
, others, and the organization.(home.snu.
edu)· Applying the relational behavior is more about providing support to teams. (onepine.info)Hiring consultant· Additional expenses· Replacement of one board member· Creating negative relationship between the company and the affective person· Medium· High· High· By applying a situational leadership where dimensions are link to task and relational behavior. The task behavior focuses on defining roles and responsibility (onepine.info)· Workforce management System.
Support personnel working on advancement and training. Table 5Optimal Solution Implementation PlanDeliverableTimelineWho is ResponsibleDevelop new technologyWith in 2 yearsTeri RobertsonBrand Image & new product linesWith in 3 yearsGreg ThomanLook for funding needed for growthWith in 3monthsMichelle HoughtonMeet SECWith in 1 monthMichelle HoughtonIdentify Investor and multiple investment firmsWith in 3 monthsSusan WellsInfrastructure implementationWith in 1 monthCharles JonesMedia PublicationFrom the First month to the target date accomplishSusan WellsTable 6Evaluation of ResultsEnd-State GoalsMetricsTargetDevelop new productsThree business reviewOne review every quarter beginning quarter 9/2Increase growth rate by 40 percentOne business reviewOne review every year 12/1Gain capital from the publicTwo business reviewThree review every quarter9/3Develop Brand ImageFive business reviewOne review every year 12/1Develop 5 new technologySix business reviewThree review every year 12/3