Problem Solution: Gene One
Problem Solution: Gene OneAt Gene One, the CEO and Board believe in order to keep pace with demand and realize growth targets, Gene One is going to have to go public within the next three years (Gene One Scenario). Gene One is facing many issues when making its way toward the IPO process. These issues include Gene One's dependence on one scientific breakthrough by their Chief Technology Officer to add to their market value, the concern over employee confidence, and lack of experience with Initial Public Offerings. The problems set forth and the solutions being implemented by senior management can be viewed through the Nine Step Model, which is described as follows: Step 1 is to describe the situation and provide an initial description of the issue or opportunity, which will become the basis for defining the "right" problem. Step 2 is to define the right problem based on the situation or scenario. Based on that problem definition, the desired future state and a set of goals are described in Step 3. In Step 4, the set of possible alternative solutions is created. These alternatives are evaluated in Step 5 against the stated goals and desired future state, as well as against the problem statement, and the risks associated with each alternative are assessed in Step 6. Based on this analysis, the decision is made in Step 7. The appropriate solution is both developed and implemented in Step 8. And finally, in Step 9, the results of the solution are evaluated (University of Phoenix, Problem Solving ,2006). Situation AnalysisGene One's dependence on one scientific breakthrough by their Chief Technology Officer to add to their market value, the concern over employee confidence, and lack of experience with Initial Public Offerings. By comparing the risks, goals, and ultimate outcome of Gene One, the benefit and the risk of IPO becomes apparent. Issue and Opportunity IdentificationThe concern with making sure that the employees understand the process or change Gene One will...
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