Gene one
Gene one
Running head: PROBLEM SOLUTION: Gene One
Problem Solution: Gene One
Situation Analysis and Problem Statement: Gene One
The next three years will be either extremely devastating or profitable to Gene One. Gene One is a privately held biotech company that is planning to go public in the next 36 months. Wall Street is optimistic the biotech industry will grow exponentially and Gene One is confident they can increase profits based on the products being developed by the R&D organization.
Describe the Situation
Issue and Opportunity Identification
Gene One is strategically planning to go public within the next 36 months. In order to achieve this goal the company is relying on the R&D organization to develop two breakthroughs and six new products while increasing annual growth 40 percent. There are many issues and opportunities that will arise for Gene One during the implementation of the plan. I will address the issues and opportunities in the next few paragraphs.
The internal issues focus on IPO preparation, lack of knowledge regarding IPO, and personal conflicts and attitudes within management. Gene One is concerned with IPO approval on the first submission to the SEC. The preparation for the IPO will increase expenses for many departments within Gene One. The HR, IT, Finance, and Training organizations will be tasked with developing and delivering courses on GAAP, leadership and conflict management.
There are two glaring external issues for Gene One to deal with while implementing the plan. Raising funds for the IPO and the fast paced technological changes in the biotech industry are external issues. The Public Relations team will be responsible for generating hype about Gene One and R&D will be responsible for keeping abreast of technological changes that could impact Gene One.
The opportunities are vast for Gene One. By going public Gene One can increase the profits, product knowledge, market share, and develop a cohesive management team. Table 1 depicts several key issues and opportunities for Gene One.
Stakeholder Perspectives/Ethical Dilemmas
There are many ethical dilemmas in Gene One with the key stakeholders, employees and management. The management team has conflicting goals for the company and this is causing leadership issues with several officers and board members. Table 2 depicts several conflicts between individuals on the management team.
Frame the “Right” Problem
Gene One will become a publicly traded company by increasing leadership competency and technological breakthroughs in the biotech industry.
Describe the “End-State” Vision
Below are the End-State goals for Gene One.
Increase growth by 40% each year for the next three years.
Apply for IPO and obtain approval on first submission to SEC.
Upgrade all systems, processes, and procedures to comply with GAAP.
Increase management competency by providing training in leadership, conflict management, GAAP.
Identify the Alternatives and Benchmarking Validation
Gene One conducted benchmarking to develop alternative solutions to the end state goals. The benchmarking focused on many topics such as expanding market territory, the biotech industry, GAAP, leadership competency, and companies that had successfully and unsuccessfully applied for IPO. By focusing on these topics sufficient knowledge will be gained to make informed decisions regarding alternatives for Gene One.
The data received from this research was extremely valuable to Gene One. The research on expanding market territory indicated that Gene One should increase customer base