Gene One is a biotech company that created innovative gene technology that found a way to get rid of disease in tomatoes and potatoes. With $400 million growth over eight years, Gene One Chief Executive Officer (CEO) Don Ruiz has decided that it is time for the company to expand into the public market. Seeing how Wall Street indicated that there is a growing interest in investors for the biotech industry Don fells this is the perfect opportunity for them to realize their goals. Gene One goals are to increase the annual growth target by 40 percent; develop additional funding to create two new technologies and six new products with the current technology that they have; and enhance their marketing strategies. With only three years to reach these goals, Gene One has discovered that they have a lot to accomplish.
Issue and Opportunity Identification
As Gene One decided to go public, they were faced with several problems that would need to be addressed before the IPO could go through. The main problem was issue that they would not longer be a private biotech company, which means they would have to follow the rules and regulations of the public sector. However, going public would allow Gene One to increase their growth by 40 percent, boost their creditability and provide them with additional funding that could be used to develop the breakthrough technologies. Gene One’s CEO Don Ruiz, decided to implement this transformational leadership because he felt as though this was the only way for them to realize their goals. According to McShane and Von Glinow, transformational leadership is “a leadership perspective that explains how leaders change teams or organizations or organizations by creating, communicating, and modeling a vision for the organization or work unit and inspiring employees to strive for that vision.” Needless to say, Don has only achieved a portion of that definition.
As the new circulated about the IPO... [continues]
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