Companies around the world face challenges both externally and internally. Externally, companies have to create, manufacture, and distribute a product appealing to a targeted group of companies and in some cases venture out to the individual population. Internal challenges stem from the Chief Executive Officer’s (CEO), board members, team leaders, production designers, sales representatives, and the employee population. Some challenges presented can be the light of a new idea and other challenges can be the beginning of the unraveling of a team, project, or company. No matter what challenges a company may face, transformational leadership and organizational cultures play pivotal roles on how the challenges are managed and what direction the company is headed. The leadership is the foundation of a company. How the leadership addresses challenges or issues will determine the work environment for all employees and the success of the company. Gene One is a company facing these very issues. Background of Gene One
Gene One was founded by five people: Don Ruiz, CEO of Gene One; Michelle Houghton, Chief Financial Officer; Teri Robertson, Chief Technology Officer and two others no longer with Gene One. In the past eight years, Charles Jones, Marketing Officer; Greg Thompson Chief Human Resources Officer; John Kirby, Executive Director Board Member; and Susan Wells, Executive Board Member have joined the family of Gene One. The groundbreaking technology that eliminated disease in potatoes and tomatoes, called Perfect Potatoes and Tender Tomatoes, created by Teri Robertson, put Gene One on the map with the biotechnology industry. Pesticides were no longer needed for potatoes and tomatoes, and took Gene One from a $2 million dollar startup company to a $400 million dollar corporation. This breakthrough technology not only brought Gene One to the attention of the biotechnology field but sparked the interested of Wall Street. The aspiration of Wall Street investors showing interest in the biotechnology industry means more funding and sponsorship for research and development. This is the very opportunity for Gene One needs not only to create new technology but to grow and expand to be the head of the biotechnology industry (University of Phoenix, Online, 2010). Opportunities and Issues within Gene One
CEO Ruiz and the board members of Gene One have drawn the conclusion; to be a main player in the biotechnology field, Gene One needs grow. The designed growth strategy will take approximately three years. Within the three years Gene One will work on building an Initial Public Offering (IPO) for new technologies, advertisement, and marketing with the initiative to have an annual growth of 40% and to go public with the company.
Developing two new technologies that will benefit the company and the public is the number one goal for Gene One. CEO Ruiz and the board members understand that without a new product on the table it will be difficult for the company to remain a major player in the biotechnology field. Additionally changes need to be made within the company for Gene One to move forward and grow. For all those involved with the future direction of the company, Ruiz has met with the board members to present a proposal regarding the future of Gene One. The board members have agreed and with the proposed presentation and look forward to the future of Gene One (University of Phoenix, Online, 2010).
Ruiz and the Leadership Team of Gene One minus a financial representative who is knowledgeable on IPO matters, met to discuss the proposal. Ruiz has incorporated the realization of growth, areas to address, and the Team Leadership focus. The major topics discussed in the meeting were the IPO, financial matters, investors, and financial statements. This sparked a concern with Michelle Houghton. Houghton reminded the team of the news article that was released in the Money section regarding the...