In: Finance
b. An argument often put forward in support of teams is that they are ‘synergistic’ -‘the whole is greater than the sum of their parts’. Explain two challenges in team dynamics which makes it difficult for you to support this view?
i. Based on your understanding in group behaviour and Ann’s comment above, what do you think is occurring in the group that makes her dissatisfied with the experience?
ii. Provide at least two recommendations of what Ann can do to eliminate these issues?
d. If you are a manager and you want to build an effective team, what three variables would you consider to make the team more effective? Explain your responses
(a) Path-Goal theory is based on specifying leader's style and behaviour that best fits the employee and work environement in order to achieve the goal. The most appropriate leadership styles that can be used in given situation are:
Directive - Leader conveys to employees what is expected from them and how to perform their tasks. It has the most positive effect when the employees role and task demands are satisfied.
Achievement - Leader sets challenging goals and tasks for employees, expects them to perform at their best and also shows confidence in their ability to meet the expectations.
Participative - Leader consults with employees and ask their suggestions and guidance before making any decisions.
Supportive - Leader shows concerns for the satisfaction of employees needs, preferences and well-being.
(b) Below are the two challenges in team dynamics which makes it difficult to support 'synergistic' approach:
Lack of Trust: Trust is very much crucial when it comes to teamwork. Team members should know each other, both professionally and personally. Else they will not engage themselves as a team and ultimately project will be affected.
Lack of Transperancy: Transperancy is very much importance irrespective of heirarchy. Lack of transperancy will affect trust within team and outside team.
(c) i & ii - As per Ann's comment, there are main reasons for dissatisfaction with team and same can be eliminated:
Not sharing knowledge - If knowledge is not shared then its of no use. Team members brings all unique set of skills and knowledge. If everyone shares their skills and knowledge then whole team can grow which ultimately gives more power to team.
No long-term thinking: Team leaders have to go beyond their routine day to day activities and think for achievement of long term objectives and goals. This will lead to new thinking process and new coming of ideas which can be shared with team members. This will motivate team members to work more effectively and efficiently.
(d) Below three variables can be considered to make team more effective:
Power - Enough and sufficient power and authority should be given to team leader so as leader can take decision within prescribed limit.
Information - Required information related to project must be shared with team so that they can work and deliver accordingly.
Time: Project completion time should not be aggressively decided. Completion time should be decided after discussion with team.