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Campbell and Bailyn's Boston Ofce Case Study The Boston ofce of a nancial services company faces new pressures because of intensifying competition and increasing complexity
Campbell and Bailyn's Boston Ofce Case Study The Boston ofce of a nancial services company faces new pressures because of intensifying competition and increasing complexity of products. Regional sales manager at Campbell and Bailyn. Ken Winston is struggling with what many managers face at one point or another: the resistance to and frustration with implemented changes from his team members {and even some customers). As a result of subprime economic downfall as well as new compe'n'tive products, increased specialized compeh'tors and the presence of low-service, low priced brokers, investment bank Campbell and Bailyn has seen a decrease in overall sales, specically in one of their topiselling regional ofces 7 Winston's Boston ofce. In attempts to lift these sales and \"fix\" the issue, "Winston, on his own initiative and with the backing of senior management. had combined ve of the top sales generalists into a new key account team, asked them to pool their customers. and assigned each salesperson a specialty subsegment of the firm's product offerings\". This team is entitled the \"Key Accounts Team" (KAT) made up of the five original generalists who were used to having their own clients and taking on sales and accounts of a wide base type. They were each assigned a "specialty\" of focus among the different account types, forcing them to pool their clients and take on jobs and accounts relating to their specied eld. A second major change has come in the form of more generalized \"division-wide performance management system for regional sales people". In order to keep the regional ofces more connected with their traders, product managers and researchers in their NYC corporate ofce, these New York professionals would supply performance reviews on the regional salespeople. Now his independentiminded sales people were to be reviewed regularly on a corporate level. These changes have come with nancial success, so far as the numbers have proven. However, they have also come with some resistance from the team including the KAT as these former generalists are accustomed to working with certain individual clients and making deals on human relationships rather than assigned specializations. it has also come with complaints from about half of their clientele, mentioning that \"when it comes to bigger trades, having to work with all of these specialists gets complicated." The new order is forcing them to deal with two or three different sales people rather than the one with whom they had built a relationship so they also feel a concern learning to trust new specialists rather than relying on the trusted relationships built over years of business. The employees also seem somewhat stied and frustrated with the new arrangement of being watched over and managed from NYC. They must feel some of their independence and self-motivation has been taken away. Now Winston is charged with representing his firm and the new developmental changes therein at the annual year-end meeting of the Campbell and Bailyn's leadership team. He is preparing a presentation revolving around the positive and negative results from the changes his team has implemented. Only problem is even he himself has not fully decided whether the pros or the cons have weighed-out most heavily relating to the implementation of KAT and the new performance management system
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