The purpose of this paper is to show that Gene One has an opportunity to go from a private company into a public corporation. Gene One was not familiar with IPOs but in order to learn of what to do the CEO brought in some experts. Bringing the leadership team together and given out assignments to the chiefs of each department is the first step on this company's agenda. Gene One had made enormous progress in eight years as a biotech company. Evidence shows Gene One has issues which require immediate attention. The time set up to accomplish acquiring an IPO is within reach with sufficient amount of funding available.
Gene One had some political methods attempted but not carried out. Situation Analysis Issue and Opportunity Identification For Gene One to become a part of Wall Street they had needed IPO capital. Gene One is an eight year old company, started with $2 million dollars now worth $400 million dollars. The breakthroughs helped Gene One to be a successful biotech company. The CEO knew to go further, Gene One had to keep pace with the demand and have a realistic plan to grow the company. A measureable goal was set toward 36 months to accomplish.
Don wanted to show Wall Street that Gene One has strong leadership and organizational capabilities to succeed as a public company. Structural capital is the knowledge captured and retained in an organization's systems and structures. This knowledge remains after all the human capital has gone home. (McShane & Von Glinow, 2005, p. 55). Gene One could become a very competitive company in the biotech industry. According to the past success the CEO was confident of progress to come for the future if Gene One continues toward Wall Street. Life Systems Corporation had been quiescent and in a non-operational mode for two years.
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However, as a result of the work of major investors Mr. Allan Moen and Mr. John Pia, Life Systems Corporation is now pleased to announce the successful restructuring of the company and the revitalization of its operations. After the appointment of Mr. John Pia to the board of directors and the post resignation of its previous board of directors, Mr. Moen and Mr. Pia took extraordinary measures to keep the propriety technology, the corporate buildings, and the company's chief scientist. Under the directorship of Mr. John Pia, the Board of Life Systems Corp was disageeable with the appointment of Mr.
Allan Moen to the position of Director in October, 2004. Mr. Pia and Mr. Moen thereafter invited Dr. Pidgeon to join the Board of Directors, and with his acceptance, Board moved ahead to appoint Dr. Fereydoon Sadri and Dr. Robert Masterson to the Board of Directors in January, 2005. Life Systems Corp is now pleased to announce the full appointment of its Board of Directors and the subsequent shareholder election thereof, of Mr. Allan Moen, Director and Chairman, Mr. John Pia, Director, Dr. Robert Masterson, Director, Dr. Fereydoon Sadri, Director, and Dr. Stephen Pidgeon, Director and Corporate Secretary, effective January 6, 2005.
Stakeholder Perspectives/Ethical Dilemmas Gene One should take notice of what Life Systems Corporation accomplished by keeping the chief scientist. Taking away what has bought the company success would be a loss-loss situation. The chief executive officer recognized the decision was to hold on and make improvements to keep pace with the biotechnology industry. Choosing to keep and improve demonstrated effective teamwork through cooperation, trust, and cohesiveness. In order to have an edge on the competition an organization must be innovative and effective by confiding in each team member (Kreitner and Kinicki, 2004 pgs 21-35).
In a private setting two board members tried to persuade Don to replace two members of the leadership team. Susan suggested giving Teri a nice package. Teri had made many achievements at Gene One. Teri had been an asset to Gene One. Don valued Teri as a developer, innovator and stakeholder. "Stakeholders are the shareholders, customers, suppliers, governments, any other groups with a vested interest in the organization," (McShane ; Von Glinow, 2005, p. 37). Problem Statement This team was inexperienced when it came to IPO capital. The leadership team needed to be educated on IPOs.
This team had to do an IPO offering to acquire capital needed for growth. Each member is specialized in a certain field. "Amgen, a biotechnology company in Thousand Oaks, California, is literally run cross-functional, self-managed teams: There are two types of product development teams, known as PDTs, which are concerned with everything that relates to bringing a new product to market, and task forces, which do everything else. The members of both come from all areas of the company, including marketing and finance as well as the lab bench.
The groups range from five or six employees up to 80 and usually report directly to senior management. In a reversal of the normal process, department heads called facilitators don't run reams; they work for them, making sure equipment and money is supplied. Teams may meet weekly, monthly, or whenever the members see fit," (Kreitner ; Kinicki, 2004, p. 44). Don outlined the necessary steps needed to accomplish this project. A meeting was set so team members could discuss challenges and opportunities. "Team members need lots of training and team building to make them cooperative team players," (Kreitner ; Kinicki, 2004, p. 60).
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