Fifth Canadian Edition. Another crucial change needs to be an increase in communication.They will have to spend time and effort to learn about the new major accounts. The firm has good reputation and was doing well in all segments of the investment banking industry. Observing customer reactions, hearing comments directly from his sales team, he knew clearly the strength and weakness of the new changes. Cons Challenge of getting support from sales specialist. Recommendations and Solutions: Recommendation 1: Problem-Solving Team and Job Rotation We recommend that your company should develop a problem-solving group consisting of members from the Key Accounts Team and hold weekly meetings. Loss of sales volume and inner warfare are addressed by defined measurable goals. One sub segment product can have one main specialist and one helper. In the case, there was no disconfirming data to suggest the performance appraisal needed a change. Pros With the help of sales specialist, KAT member can reduce some time on the process and administrative work to spend time on building relationships with their clients above and beyond the details of the job. Rob Goffee and Garet Jones For the past several months, there are certain number of customers enjoyed this new change as they see the new sales team more invaluable. What holds the modern company together. This change aimed to better the collaborations between regional sales force and cross functional teams as well as encourage the sales team to improve gross margin and profit. Hold more internal events to build the teamwork environment and bridge the gap of internal relationship. The issues created by these two changes were process complication, limitation in competitive advantages, and discouragement on internal collaboration.
Alternative 2: Unlimited Vacation Days We initially thought of offering your employees unlimited vacation days. These issues had to be fixed in order to win customer satisfaction, gain market share and build a well-organized and well-functional organization.
Winston is preparing a presentation for the division leadership team and will discuss the effectiveness of the new …show more content… The root cause of the problem with the performance appraisal is that sales people are now evaluated based on their relationships with the traders and researchers in New York with no input from the regional manager.
The issues created by these two changes were process complication, limitation in competitive advantages, and discouragement on internal collaboration.Paul Rogers and Marcia stated that decisions that drive the business execution are as crucial as strategic decisions 8. Loss of sales volume and inner warfare are addressed by defined measurable goals. Do you have a well-designed organization. Another bigger concern of Winston was the limitation on the natural salesmanship of his people due to this specialization. This specialization might also lead to a siloed organization structure which was definitely not the strategy. We wanted to introduce the problem solving 3 months in rather than immediately so that you are given an opportunity to communicate the idea to your team members. In addition, margin was shrunk due to entrance of low-service, low-price brokers. Peer feedback was part of the review narrowed the information sharing between coworkers. Winston had to make two strategic changes in order to maintain the sales growth and operate more effectively. More products were created to cope with different demands in the market place. More calls and meeting were needed. The changes that your company has implemented have both positive and negative aspects to them. Lastly, company events are best practice, create family-like working environments and foster the company culture. The firm has good reputation and was doing well in all segments of the investment banking industry. In addition, margin was shrunk due to entrance of low-service, low-price brokers.
Alternative solutions Solution 1: Merge key account team and specialist team Team up KAT and specialist into one small team. This type of job required very unique skill set and characteristics. Recommendations and Solutions: Recommendation 1: Problem-Solving Team and Job Rotation We recommend that your company should develop a problem-solving group consisting of members from the Key Accounts Team and hold weekly meetings.
The new KAT team and performance management system created process complication for both customer and sales people, risk of losing sales volume, risk of losing competitive advantages, and failure to foster the sales team expertise and build an effective operation process within the organization.
According to the cognitive evaluation theory, the increase in working pressure to make higher profits has also shown to be an ineffective method of encouraging employees in the long run.
If this change does not come with clear direction and well-defined implementation plan, it may make the situation worse.