Essay on "Implementing a Leadership Change"

Essay 4 pages (1193 words) Sources: 1+ Style: APA

[EXCERPT] . . . .

Leadership Change -- the Gene One Scenario

Gene One is a highly successful private organization that has invested and succeeded in its biotechnological endeavors. The company has been able to reduce the diseases in plants and trees, with the ultimate results of improved quality of fruit and vegetables. The satisfaction of the customers is increased as they now find it more accessible to consume healthy nutrients, without any added chemicals in their composition.

The mastermind behind Gene One is Don Ruiz, who has recently passed away. The managerial team is now facing the extremely difficult task of preparing the organization to go public. Each department head is forwarding the superiority of his division over the other departments. The company has to maintain its ascendant trend and generate sustainable revenues, but it must also prepare for its initial public offering (IPO).

Fortunately however, these two goals collide in the meaning that the more successful and reliable the company is, the more chances it will stand for a triumphant IPO. Given this situation, it is advisable for the current leadership team to focus on a change strategy characterized by the following:

(1) Creating a heterogeneous top managerial team.

The general perception is that the managerial team at Gene One, or any other economic agent for the matter, has to be united in order for it to be able to impose its views and convince the staff members to follow its visionary agenda. This is in fact a true belief in the meaning that an organization has no chance of success if its leaders are divided and cannot find means to cooperate. Despite this fact however, it is also advisable for the team to be heterogeneous, rather than homogenous. The basic concepts refer to the nature of groups in the meaning that a homogenous group is one in which the members are united by similar features, backgrounds and interests, whereas a heterogeneous is characterized by members who come from different backgrounds and seldom see eye-to-eye.

Given this understanding, it is recommendable for the managerial team at Gene One to reveal increased levels of heterogeneity as this formation is more successful in attracting investors. Otherwise put, a heterogeneous top management team is more reliable as it can assess a threat or an opportunity from more different angles, it is constructed on vast expertise from various fields and it possesses vast education on several subjects. All this point out to the fact that not only will the quality of the managerial act improve, it will also contribute to the process of initial public offering as a company with a heterogeneous top managerial team stands increased chances of attracting larger amounts of capitals than a company with a homogenous managerial team (Zimmerman, 2008).

In a more simplistic formulation, it is advisable for the new managerial team at Gene One to assess its professional skills, abilities and education. Given a finding according to which most of the members have similar backgrounds and professional capacities, they should strive to include more professionally diverse specialists. The final Gene One managerial team should be formed from a financials specialist, a marketing specialist, a human resource specialist, a technology specialist, and a general manager.

(2) Enhancing organizational reputation

Once Gene One becomes a publicly traded organization, its share will be traded on both primary and secondary markets, meaning that individual investors and brokers will set the retail price of the stock and its market value. The company will have no ability to control the price of its share (Journal of Accountancy, 1995). Nevertheless, they will… READ MORE

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