iRW Presentation
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The document summarizes a field study conducted by a team on the IT services company iReadyWorld. It provides background on the company, its services, organizational structure, industry research, and interviews conducted with the founder and a VC investor. It then analyzes key change issues facing the company across four modules: leveraging power and networks, strategic transformations, knowledge management, and starting over. It concludes with the group's three-part assessment of needing an experienced new CEO, defining Adi's future role, and establishing directions around sales, marketing, training and a new company name.
iRW Presentation
- 1. iReadyWorld Change Management Field Study Team Members: Barry Eng Forrest Ferdon Thomas Francis Lauren Niehaus Curtis Palmer Samira Vossough BUS 633P Change Management Prof. Mary Ann Glynn
- 2. Fieldwork Research on Industry Interviews with CEO and VC’s CEO invited to give “pitch” to company (schedule conflicts) Interviews with exiting sales person(s) Discussions with Potential Customers
- 3. Company Background IT Service Provider Targets Small/Mid Sized Firms Market = Southeast US (NC, GA) Founded in 1999 Charlotte, NC Based On 2nd Round (VC Funding) 22 Employees
- 6. Industry Research There is a market for this service (potentially very large) Regional competitors failed due to funding issues / financials Anticipate that large firms may one day become dominant players e.g., MCI, IBM, etc. If “iReadyWorld’s” are successful and profit potential is noted
- 7. Industry Research (continued) Other players include Everdream Corporation (Fremont, CA) Company is currently focused on growing sales / customer base and establishing profitable model by end of year 2002 Need 2 large Atlanta accounts (500 seats + each)
- 8. Founder Interview (Adi) Ambitious & Record of Past Success Young (31) Entrepreneurial Wants to repeat someday Appears willing to hand over leadership Sees himself as “closer” Wants sales role following transition BUSY ! Time commitments very tight Commutes between Atlanta & Charlotte weekly
- 9. VC Interview (Tuff Yen – TTV) Believes in the business plan Only willing to invest if Adi & Lane agreed to step down following funding Sees challenges w/r to marketing and sales Actively assisting the company in identifying new CEO Company also requires additional budgetary controls / fiscal management policies
- 10. Change Issues Impacting Firm Our Analysis Follows the Course Framework: Module I: Leveraging Power, Influence & Networks Module II Strategic Transformations Module III Changing Smarts Knowledge Management Module IV Starting Over & Starting Up
- 11. Module I : Leveraging Power Key Issues Growth Geographic Internal New CEO Network building Power shift Employee acceptance
- 12. Module II : Strategic Transformations Key Issues Organizational structure must morph to better fit geographic expansion & growth plans Structure must reflect increasing importance of sales & marketing Structure must meet the needs of clients
- 13. Module III : Knowledge Management Key Issue Transferring company knowledge to new sales staff – “cloning Adi” Sub Issues Retaining sales staff (high turn-over) Improving sales staff selection / hiring process
- 14. Module IV : Starting Over & Up Key Issues Adi’s future role After new CEO Company’s future Predictions for growth & profits Sub Issue Name change Goodbye “iReadyWorld”; hello “?”
- 15. Group Assessment (I of III) New CEO: Role harder to fill than originally anticipated Founders & Investors initially thought finding the right person would be easy Position not “well defined” Now considering the use of an executive search firm
- 16. Group Assessment (I of III) (continued) Founders state willingness to pass on leadership, but this will be tested Leader will be given short time to reach conclusions Industry expert with significant management experience required New leader will make changes that may not get the full support of staff
- 17. Group Assessment (II of III) Adi’s Role as Chief Customer Officer: May be only temporary solution for Adi Needs more appropriate role Adi’s has extensive time commitments, which limits his effectiveness Company must concentrate on developing training program / knowledge management system for future sales force Company must hire marketing expertise Outsource vs. in-house staff?
- 18. Group Assessment (III of III) Future Directions: Must replace key Atlanta salesperson Due to resignation Need a sales strategy Must identify new corporate name – and tie that to new marketing campaign (VC’s request) Must establish an employee training program For sales force as well as other staff Encourage knowledge transfer across geographic boundaries
- 19. General DISCUSSION Applause Ovation? Standing
Editor's Notes
- #16: Think Bernd Stenzel for staff support buy-in, Think Ethan Berman for willingness to pass on leadership