Gene one Leadership Change
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Running head: LEADERSHIP CHANGE STRATEGY
Gene One Leadership Change
Introduction
This paper will discuss and analyze Gene One which is a biotechnology company in business for eight short years and started by a group of family and friends. It has been successful in the area of gene technologies and has realized its potential growth opportunity by seeking to be an IPO on the stock market. These new advancements in gene technologies help farmers field and produce better crops using no chemicals. The Company is now looking to go public in order to obtain the capital needed develop future products, and to stay competitive in the biotech industry. Over the last eight years Gene One has established a team who members possess the skills required to produce new technologies. These new technologies will help eradicate disease in crops.
Recently with the passing of the Chief Executive Officer (CEO), Don Ruiz, the organization is facing many changes in leadership and must now analyze who should succeed Don and what the way forward will be for the company.
Leadership Change
Leadership in an organization involves instilling motivation and enthusiasm in the employees. An effective leader knows how to manage and tackle difficult situations and people. An effective management team carefully plans the goal of an organization, recruits the necessary staff, organizes them, and closely supervises them to ensure that the overall goals and objectives of the organization are met. It is about extending the support that is required by the employees for the successful accomplishment of the organizational goal and objectives. Therefore, it is absolutely important for Gene One management to communicate with there employees so they know which direction the company is heading and what is to be achieved. Many reasons can cause a force of change in organizations. It is up to leadership to manage these planned and unexpected changes. As we see with Gene One they are going through a force of change and must make decisions that are in the best interest of the company and its employees. Because of change they will see some resistance. The resistance may be caused by employees feeling insecure, afraid of the unknown and some will feel the loss of power. Resistance to change may have been captured best by M. Ferguson when he said “Its not so much that were afraid of change, or so in love with the old ways, but its like being between trapezes. Its Linus when his blanket is in the dryer. Theres nothing to hold on to”.
Team Analysis of Gen One Leadership
Gene One has many valued employees each of whom brings a wealth of knowledge and experience to the organization. However, with the new leadership changes that are needed, we will see many opportunities for conflict? Leadership factors can affect conflict within decision making groups. The analysis of the Gene One team is;
Don Ruiz, Chief Executive Officer: Until his recent passing Don was the force behind Gene One. He was very knowledgeable in the technology industry and took Gene One from a $2 million dollar start up company to a $400 million company.
Michelle Houghton; As Chief Financial Officer (CFO), Michele holds a strong sense of ownership and emotional attachment to the company. She has been successful in obtaining outside finding from both the private sector and the government. Michele is one of the original five that helped start the company. Because she has invested everything she had into Gene One she holds a strong sense of ownership and emotional attachment to the company. Seen as reserved and quiet, she is often mistaken for a pushover, but in reality, she is concerned and focused about any issue that puts the company at risk. Michelle is a young 35 and has never had the opportunity to direct the finances of a large company nor has she been involved in an IPO; because of this lack of experience she will need to quickly get spun up and have the right people supporting her. She does have good leadership skills and is most suited for the position.
Charles Jones; Currently Charles is a Gene Ones Marketing Officer. He is a motivated employee and believes in the company but lacks the experience needed to be CFO. Therefore, the company should hire another person to fill out this position.
Teri Robertson, Chief Technology Officer, is one of the original team and Dons niece who is completed absorbed with Gene One. Teri is well rounded and understands both the scientific and financial side of the organization. Teri is a motivated and passionate researcher but does not want to be forced to research by the mainstream “Wall Street” investors.
Greg Thoman; Chief Human Resource Officer, has been successful in ensuring Gene One obtain and retain only the most qualified people. Greg joined Gene One six years ago and has helped fill staff positions with talented researchers and innovative product developers. Because of Gene Ones rapid growth over the last couple years Greg has been very busy focusing on bringing onboard only the highest qualified people but has had little time to focus on developing his own future and at this time would not be a candidate for the CFO position.
Change Strategy
The required change strategy will be devised so it supports the overall approach of the organizations objectives and goals. Realizing its growth potential Gene One will develop new and innovative products by identifying and using better technological tools and techniques. The new change will cause Gene One to focus on the quality of its products in the market. This can be done by using available funds raised during the Initial Public Offer (IPO), and by identifying new prospective investors. Gene One will also look into the possibility of expanding into the international market.
The organizations change strategy will be to focus on effective leadership, which will motivate and encourage the employees to develop a background for change. It may be quite possible that the changes are met with much apprehension and fear. The recommended changes to positions in the company are as follows:
1. Michele assumes the CEO position
2. Lucas fills the marketing position
3. Greg assumes the CFO position
4. Teri stay as technology lead (persuading Teri to go along with the changes will require assistance from all players.
Execution of Change