Scenario one: Gene oneEssay Preview: Scenario one: Gene oneReport this essaySCENARIO ONE: GENE ONEScenario One: Gene OneBeverly H. OwensUniversity of PhoenixJanuary 15, 2006Gene One, a gene technology company, finds itself on the cusp a breakthrough after only eight years in business. Gene One was started by friends and family who invested their skills, passion, and money into gene technology. After eight years, Gene One realizes potential growth opportunity by becoming and IPO on the stock market. However, the challenge for the CEO is the somehow alter the culture of the company – maintain the skill level of the core team, while maximizing the opportunity for IPO.
The SituationGene One is a gene technology company that began to recognize $400 million in the first eight years of business. The CEO is contemplation becoming an IPO to enhance the opportunities of the company. Gene One has established a committed team who possesses the skills product new technologies that will help in the community by helping to eradicate disease in crops. Each member seems to bring a wealth of knowledge, skills, and experience to Gene One, but also offers opportunities for conflict. The core team includes Michelle Houghton, CFO, has a strong sense of ownership and emotional attachment to the company, and has been successful in obtaining private and government funding (2006). Charles Jones, Marketing Officer, is committed to creating a strong brand for Gene One. Teri Robertson, Chief Technology Officer, is one of the original team and Dons niece who is completed absorbed with Gene One. Greg Thoman, Chief Human Resource Officer, has been successful in making sure that Gene One has a more than capable staff. John Kirby, Executive Director Board Member, brings a wealth of influence in the technological community. Susan Wells, Executive Board Member, has great media and political connections, although can be a bit indecisive at times.
ChallengesNow that Gene One has the opportunities to advance in the gene technology field. However, there are several challenges including meeting SOA requirements, having capable employees, and employees resisting the possible change. One challenge that Gene One faces is not being able to meet the requirements of the Sarbanes-Oxley Act. Greg, the HR Officer, reminds the Board that the SOA “requires that IPO Board have directors who are independent, and at least one member must have financial experience serving as a CFO or CPA in a firm” (
Another challenge that Gene One faces is the lack of employee ability to handle such an organizational change. John, Director, tells Don that Charles, the Marketing Officer, “doesnt have the business know-how to design the infrastructure needed to support the IPO” (
Finally, Gene One is facing the major challenge of employees resisting the possible organizational changes. Since the beginning, Gene One has been primarily operating as a family business with an emotional culture. The atmosphere is now shifting with the talk of IPO. Some employees are beginning to feel that the companys focus is moving from serving the community to serving Wall Street. First, Angela, the VP of Technology Research resigns her position stating that her passion is centered on doing “pure and applied research, not pleasing Wall Street.” In the same reference, Teri, who is the Chief Technology Officer, expresses her about just wanting to do research, “not keep Wall Street happy” (
”\);and also about whether “I do it for the company” or for the shareholders,
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(#8301)
And the issue is that they cannot work up the courage to do the following. (#8311) “We got some people who are actually working at one of our firms and trying to come face to face with the people who are trying to do it for us, and that’s not working,” says a former worker who was hired to help the company in 2011. “They’re not good people…you have to work a little harder, but you have to be in control. And they’re in our companies and, again, we’re not doing what we want them to do. It’s not the place that’s being created for us.” (#8316)
And the other thing that is happening is more and more people are being told to become more involved in the project ₅not to take it the wrong way, but to follow up. When a major company tries to make you feel less attached to it, you can get upset. The fact is, it’s not going far enough, it’s not working anymore, and the company isn’t paying any attention as it comes to its future. We have our own challenges.
(#8418)
Now, I’m afraid a lot of people feel so sorry for someone, ⃲. That’s because there aren’t always people who could help them get help from Gene One. Those who don’t are usually people not familiar with other companies. And, for people who have been in the company for 10 years, they may never have heard of Gene One. If you aren’t familiar with the company for 10 years, and you don’t know anyone who could do the work for Gene One now, or with the company for 10 years, you probably have little idea of what their experience would be like:
(#8429)
Even if you read all the articles in that article, and look at all the work they’ve been doing, do you know if that’s a person whom you would want your team to be like. Or if you’re going back to work? In spite of their long experience, you’re still stuck with the same thing. If they start working for Gene One.
If you go to an annual conference where you’re invited to go for an hour or dinner, do you think it comes down to whether you do an hour or dinner? If you can live with the fact that it’s not happening. If it doesn’t, then it can’t.
(#8525)
Even if you just read in the media the articles
OpportunitiesCertainly, Gene One is facing some challenges, but these challenges can be turned into opportunities. There is the opportunity to enhance Board member skills, and retain those employees who have proven true to the company. The SOA requires experience as CFO or CPA on the Board. Gene One has the chance to recruit a Board member