Question

In: Finance

Take a topic mentioned in our readings and explore it further in 3-4 pages. Identify and...

Take a topic mentioned in our readings and explore it further in 3-4 pages. Identify and discuss the current trends in your chosen topic area. Possible topics include (but are not limited to) use of virtual teams in global corporations, methods for managing conflict among virtual team members, team-based compensation programs, and team decision making processes.

Solutions

Expert Solution

Team Decision Making

We all have our personal goals in life. In a same way organisations have their own motives or goals and for the achievement of those goal, every organisation work hard through applying different different stratergies.

For making stratergies or taking other decisions team work is must and we will able to take effective team decision only when we analyze every aspect of subject matter i.e problems and alternative solution.

For Effective Team Decision making process: the process largely rests on the selection of a course of action and the evaluation of two or more alternatives. To effectively navigate this path, the following step-by-step approach can be used.

1. Recognize the problem. Teams must see and recognize that a problem exists and that a decision needs to be made to move forward. While on its face this step appears elementary, many teams do not always recognize that there is an issue that needs to be addressed due to issues such as group think. 2. Define the problem. In this stage, teams must map out the issue at hand. During this step, teams should: (i)State how, when, and where members became aware of the problem. (ii)Explore different ways of viewing the problem – different ways of viewing the problem can lead to an improved understanding of the ‘core’ problem (iii) Challenge any assumptions that are made about the problem to ensure that the team fully sees the ‘real’ issue at hand.

3. Gather information - Once the problem has been defined, teams need to gather information relevant to the problem. Why do teams need to perform this step? Two reasons: (1) to verify that the problem was defined correctly in step 2; and (2) to develop alternative solutions to the problem at hand.

4. Develop Alternative Solutions. While it can be easy for teams to ‘jump on’ and accept the first solution, teams that are effective in problem solving take the time to explore several potential solutions to the problem. Some ways to generate alternatives include: a. Brainstorming. During this process teams are encouraged to come up with as many ways as possible to solve the problem at hand. While brainstorming can help generate creative solutions to problems, a few guidelines are needed to help it work most effectively. b. no criticism of any ideas during the brainstorming phase; c all ideas, no matter how silly, get recorded; D get past the sillies - sometimes very creative, and viable, solutions come after people have made what appear to be ‘silly’ suggestions. E. Ask Questions. Network with colleagues internal and external to the organization to get their ideas and suggestions. 5. Select the BEST alternative. Once all the alternatives are in, the team needs to determine the alternative that best addresses the problem at hand. For this element to be effective, you need to consider both rational and human elements.

Rational Elements - These rational elements stem from the previous steps of the team decision making/problem solving model: 1. Analyze the problem 2. Determine the desired end state. Here teams need to clearly define what success looks like. 3. Evaluate alternatives against the desired state. Here teams discuss the merits of each alternative and the extent to which each can move the team to the desired state. To help on this step, some teams rate each alternative on a scale of 1 to 5 where 1 is low and 5 is high. 4. Discuss potential adverse consequences of each alternative. Here teams need to discuss the potential downsides of the options.

Human Elements - Here the team needs to ensure the following:

Active listening. This requires that team members: • Pay attention to the dialogue and anticipate where the conversation is going; Objectively weigh out what’s been said; Try to understand what the other person is saying; and Review and summarize what has been said. Supporting each others’ ideas - Participate. To fully take advantage of the complementary skills present in a team, all team members must participate. Sometimes, one or two people dominate team decision making processes because of their interpersonal style (i.e. extraverted vs. introverted), their need for recognition, or their presumed status/position. This can have a negative effect on the team in terms of its ability to make effective decisions. When this occurs, the team needs to address this issue - especially as they face this problem as a team. 6. Implement the best alternative. Once the alternative has been chosen, the team needs to implement its decision. This requires effective planning as well as communicating the decision to all the stakeholders that may be impacted by this decision. 7. Evaluate the outcome. Remember that teams and team building is a learning process. It is critical that the team examine whether the proposed plans of action were achieved in an effective way and resulted in positive outcomes. § Are comfortable presenting differing views. Remember that group think is a key concern for teams. To effectively present differing views make sure that you: • Clearly state your differing view; • Focus on the reasons for the differences; and • Treat differences as a source of ideas rather than a source of interpersonal conflict. § Most people tend to focus on what is wrong versus right. Being supportive requires that you: • Assume that others have valid points; • Point out the useful aspects of what has been said; • Build on these useful points; and • Avoid unnecessary criticism.

In Team Decision Making : A Leader should be a leader and a motivator. but when a number of person are involved, a leader definitely a consensus man, but that does not mean and he does not disagree or that he does not express his views .Basically it is a question of having to deal with individual men heading different enterprises. You have to adapt yourself to their ways and deal accordingly and draw out the best in each man. If leader have any merit it is getting on with individuals according to their ways and characteristics. At times it involves suppressing leaders that would be painful but necessary. To be a leader you have got to lead human beings with affection.

A leader should be : Approachable: - means a leader should not have problem making friends easily. He should be one of the most comfortable personality that should probably benchmark of becoming a successful individual.

Diplomatic: - One of the most difficult talents is to say ‘no’ in a nice manner. leader should never be rude but mke his point diplomatically.

Realistic: - a leader should be realistic never plunged into unviable projects, howsoever exciting they might be.

Charismatic

Courageous

Compassionate

Supportive towards innovation

Aware of a sense of responsibility

Committed to values


Related Solutions

Explore the Electrical Safety Foundation International's web pages on home safety located within the weekly readings....
Explore the Electrical Safety Foundation International's web pages on home safety located within the weekly readings. Then answer the following questions: What are the dangers associated with electricity in your home? What can be done to limit or prevent the possibilities of dying or getting hurt?
Topic: Medicare and Medicaid The landscape section should be 2–3 pages in which you: Identify the...
Topic: Medicare and Medicaid The landscape section should be 2–3 pages in which you: Identify the key stakeholders; Identify their position; and Identify the possible factors (all of them do not need to be included) relating to your topic or policy.
write an essay on the topic. corruption. 3 pages.
write an essay on the topic. corruption. 3 pages.
Please, can answer consists of at least 3 or 4 pages and take care of plagiarism....
Please, can answer consists of at least 3 or 4 pages and take care of plagiarism. Mid term essay You will have to write 3-4 page essay where you will address the following topics. 1. Select 2 types of competitive markets: perfect competition, monopoly, monopolistic competition, oligopoly. 2. Explain selected 2 markets. Provide a table where you will compare characteristics. of each market, for example, how many companies operate in this market, are they selling the identical product, when are...
Need 3-4 typed pages of research topic, notes. Thank you! Any research topic (what you want)
Need 3-4 typed pages of research topic, notes. Thank you! Any research topic (what you want)
: we have to coise one topic and explain this to min 10 pages . our...
: we have to coise one topic and explain this to min 10 pages . our choises is account recivables types and differences.
Explore the topic of cognitive biases and identify three of them which are particularly relevant for...
Explore the topic of cognitive biases and identify three of them which are particularly relevant for you. Recall some situations in your past when you were susceptible to these biases. How did they influence your actions? How can you avoid getting into situations like these in the future?
write 3-5 pages of you favorite physics topic
write 3-5 pages of you favorite physics topic
I need research proposal of 4 to 5 pages for phd in the topic " The...
I need research proposal of 4 to 5 pages for phd in the topic " The determinants of resilience in an organization".
descartes proof of god 3-4 pages
descartes proof of god 3-4 pages
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT