Problem Solution: Geneone
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Running head: PROBLEM SOLUTION: GENEONE
Problem Solution: Gene One
Roy Carter
University of Phoenix
April 23, 2007
Problem Solution: Gene One
Does there exist a common definition of success pertaining to all aspects of business? Success is commonly comprehended as the converse of failure. Pervasive definitions of success include attainment of objectives or acquiring higher levels of social-economic status. Success, when referring to businesses, is chiefly defined as a unit of measure. Examples include churches increasing membership, or a business increasing its stock value. Sporadically, success is also distinctive and measured against personal ambitions for which lateral movements could be considered an example.
Success is a challenge that is frequently confronted by organizations. Success is not typically associated with inheritance, which means that it must be earned because it can not be given. There exist 3 routes that organizations subsequently take attempting to reach success while only 1 route leads to success. The first route is determined by declining numbers, stock value, or efficiency. The second route is determined by stagnant numbers, stock value, or efficiency because of the continuing increase of external factors such as inflation. The third route determines increasing numbers, stock value, or efficiency and is the only path that lead to success.
Economics, which plays a key role in success, is defined as the relationship between supply and demand. Typically when there is a high demand it results in a low supply. When there is a high supply, it results in lower demand. Gene One is a prime example of this economic relationship. Gene One is experiencing a high demand; therefore the acquisition of IPO propelled the executive board to embrace the challenge of meeting the needs of its present and future customers.
Gene One is an example of a Biotechnological company experiencing a high demand thus taking the path that does lead to success. The primary problem is the lack of understanding as to the necessity for IPO Capitol and the lack of staff members with correlating IPO acquisition credentials. The underlying issue is to convert the primary problem into an opportunity thus ensuring no deviation off the current route that leads to success.
The process involved with choosing the appropriate path to sustain success is not singular. There are several devised measures which must be adhered to and properly followed in ascending order regardless of the present state of the business. The steps involved are identifying the issues and opportunities, acknowledging stakeholder perspectives, identifying the problem, envisioning the product, alternative solutions, risk assessment, optimal solution, implementation of optimal solution, and evaluation of results.
Situation Analysis
Issue and Opportunity Identification
Percentage is defined as a ratio or fraction understood as the denominator. Gene One based percentage as the definitive explanation to the necessity to obtain IPO capitol while attempting to maintain company infrastructure. Within a pragmatic window, they have established a 36-month timeframe needed for successful IPO implementation, which is needed to maintain a 40% annual growth rate. Meeting that annual growth rate would be extremely difficult without going public because public companies have more credibility than private companies and can gain required capitol for growth of marketing, products, and technologies. The Leadership Team, led by Don Ruiz, has been given the challenge of identifying and executing factors required for IPO acquisition.
Gene One need to realize annual growth targets of 40%. Gene One is a successful organization, but the problem arises with inactivity. Success is not strewn; it is a continuous pursuit and achievement of established goals. Certain members of Gene Ones leadership team lack peripheral vision, which is defined as “the ability to see objects and movement outside of the direct line of vision” (www.medterms.com/script/main/art.asp?articlekey=10638). This is a classic example of a problem solving approach, which is “Problem solving focuses on creating future solutions, not on solving past problems. This focus requires turning all problems or issues into opportunities–opportunities to create a better future state” (Problem-Solving Approach). There exist two destinations for Gene One, which are the reciprocal of one another. Each destination represents outcomes, which are negative and positive respectively. The opportunity is to ensure that the path selected will result in a positive outcome while disallowing resistance to hinder future successes.
Gene One was faced with the question, “How can we maintain pace with demand and realize annual growth targets?” The answer led Don Ruiz, CEO of Gene One, to recommend to the board the approval to pursue IPO capitol. The board approved his request, but the approval was only a small stepping stone of a very big hurdle. The challenge for Don Ruiz is a display of his knowledge of transformational leadership. “Transformational leaders create a strategic vision, communicate that vision through framing and use of metaphors, model the vision by “walking the talk” and acting consistently, and build commitment to the vision” (McShane & Von Glinow, 2005, p. 29). The task that Don Ruiz is presented with is to successfully convert the challenge into an opportunity and achieve positive outcomes while alleviating negativities.
The team of words avoidance, accommodation, competition, compromise, and collaboration has one fixation in common. They each represent one fifth of the universal problem solving methods. As with any team, there exists a superstar. The superstar represented is, “Collaboration: You and I work together to find an agreeable solution to the problem. As a result, I win – you win, because we were willing to work together” (Five Problem Solving Methods). Teams fail because of incompatible goals, differentiation, task interdependence, scarce resources, ambiguous rules, and communication problems. The issues associated with Gene One are incompatible goals and differentiation, which represents their most significant problem.
Defining a problem is the most critical step when realizing opportunities. All members