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Campbell and Bailyn’s Boston office: Managing the Reorganization

Autor:   •  March 30, 2015  •  Essay  •  304 Words (2 Pages)  •  1,147 Views

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Campbell and Bailyn’s Boston Office: Managing The Reorganization

Situation Analysis

Ken Winston, the regional sales manager for the Boston office of Campbell and Bailvn, prepared presentation at the annual year-end meeting of the bond division’s leadership team. Because Boston office was the second largest office in the company, its sales group was used as a bellwether in the new products and management ideas. So, Winston put forward two changes about the company – Key account team (KAT) and a division-wide performance management. Based on these two changes, many salespeople in his division thought they’re unnecessary, even though it may not be work.

Campbell and Bailyn’s fixed income division of sales and trading business was the fastest growing unit. It sold three types products. One of the products was the taxable bonds which were the biggest segment and sold mortgage-backed securities, high yield corporate debt, bond futures and options, government securities, and derivative products. Every division has different specialization salespeople. Also, salespeople had powerful customer relationships.

Winston’s team included nine salespeople: five generalists and four specialists. Usually, generalists had large expense accounts to nurtured relationships. Specialists managed smaller accounts. Winston wanted to change the generalist team because it lost business to their competitors – lack of detailed product expertise. So, Winston created KAT, it not only increased effectiveness but also let customer to found that having experienced salespeople offering in-depth, technical advice on specific new issues to be invaluable. Also, he created a new “multisource” performance appraisal system for salespeople. In the old system, salespeople’s bonus was based on annual sales volume and regional sales manger’s own assessment. This new system included confidential questionnaire to gather feedback from traders, product mangers and researchers in New York.

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