Gene one Case Study
Gene one Case Study
Running head: PROBLEM SOLUTION: GENEONE
Problem Solution: Gene One
Aaron Pough
University of Phoenix
Introduction
Gene One is a biotech company that started with a $2 million dollar start-up investment and has grown to a $400 million dollar company. On Wall Street biotech industry stock has rising to show interest in biotechnology. At Gene One, the CEO and the Board believe that in order to keep up with demand and realizing growth targets, Gene One need to go public within the next three years. The time seems right, but the Gene One will face numerous issues when trying to go public. Gene One will need new development, advertisement, join partnership and marketing to get IPO capital. If Gene One wants to go public they might want to look at benchmarking companies and how they prepare to go public and handling similar issues when going public. First Gene One must identify the major issues their going to face trying to go public, how they’re going to response to the issues and the outcome they might have. Gene One is under a tremendous amount of pressure to push the company public. If the CEO Don Ruiz and the board want to push for an IPO, they might want to consider benchmarking after companies with similar issue in Gene One. Some of the Gene One issues are improving company brand image, improve marketing, restructuring to find new talent and developing a new business model to improve revenues.
Situation Analysis
There are many issues that arrived at Gene One when they wanted to jump from a private company to a public company. The CEO and the Board have devised a clear strategy with the help of key members in the investment community. As with all issues, there are many opportunities for Gene One and Senior Leadership to take advantage of and benefit from. One of the major issues that Gene One has is communication through grapevine one of the oldest communication channel in throughout organization. Rumors spreading about employees disagree with company going public. Gene One not informing the employees of the company going from a private company to a public company. The information coming from news article and other employees does help the Gene One implement the IPO strategic plan to work. Gene One has the opportunity to address the company IPO strategy proposal and plans in an open and informal atmosphere. This will help keep the employee morale high at harsh time to come. Communicating the issues with the employee’s show their interest and need are a major part of the company vision.
Gene One Senior Leadership team not showing cohesiveness through this time of needed to take the company public. Senior Leadership use “I” instead of “We” when concerning the team goals and task at hand. Gene One Senior Leadership has the opportunity to show how effective teamwork can be by sticking together sharing knowledge, skills and their abilities to accomplish the organization strategy. Gene One team viability will show cohesiveness throughout this transformation of leadership style to make a clear purpose of vision, mission, and goals throughout the company. To be cohesive group Gene One Senior Leadership must emphasize the superordinate goals that rallied stuff and encourage them to put aside cultural difference. Reducing differentiation is another way to minimize dysfunctional conflict. Improving communication and understanding the opportunity, ability and motivation to share information to employees develop less extreme perception of each other. Reducing task interdependence meaning sharing each other work task among each other can build trust and cohesiveness.
CEO Don Ruiz and the Board reaching to take Gene One public could be a win-lose approach. When a company goes public, owner could get rich over night and cash out. That call exit strategy when owner intend to get out of an investment they made in the past. Employees and the public could feel quit hesitate because of the past IPO scandal from big companies like Enron and World Com. If not an exit strategy Gene One has the opportunity to realize the growth from IPO and maybe employees could get generous stock option that will make a great deal of money.
At Gene One emotional conflict has rising in the company and becoming an issue. Emotion that creates a state of readiness that may affect the company survival and well being. Emotions influence both attitudes and behavior in the workplace. Gene One going public affects the way how an employee feels about the company going public. Senior Leadership team have not figure out a way to let the employees know