Benefits of Teams to People and Organizations

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Principles of management 3
Assignment 1
SBMG4007

4/1/2011
Student ID: 105555-89
SRIKANT SRIDHAR

Contents
INTRODUCTION3
BENEFITS OF TEAMS4
WHY EFFECTIVE TEAMS CONTRIBUTE TO BUSINESS PERFORMANCE5
TEAM WORK PAYS OFF AT LOUIS VUITTON5
WEAKNESSES OF GROUP DECISION MAKING6
CONCLUSION7
BIBLIOGRAPHY8

INTRODUCTION
Teams bring together people with different ideas and perspectives to solve difficult problems. Contribution of some disciplines or organizations is required to solve social and economic problems. Teams help in bringing these people from different areas together to work on a particular problem. According to Katzenbach and Smith a team is a group of small number of people with complementary skills who are assigned to a common task for a purpose of performing goals and approach for which they hold themselves responsible. However, putting together people in group does not assure either satisfaction or performance. Teams, such as those at Cisco work at very high standards and their level of achievement is also high, they are noticeably successful and achieve more than expected, whereas other teams fail wasting time and opportunity. The differences performances such as meeting business targets or satisfying members reflect how the teams have been managed. Diversity of backgrounds which makes teams valuable can also make it hard for a team to work. Creating teams is just the start towards achieving goals, it is then up to the members to learn how to work collaboratively together to reach targets. (Boddy, 2008)

BENEFITS OF TEAMS

Benefits to members
Man is a social animal, they have social needs that they seek to satisfy by being accepted and acknowledged by other people. It can be done person to person, but as many people are parts of cooperative groups and teams it gives them a chance to interact with others which helps them to exchange ideas with different kinds of people that helps to reshape one’s views and ideas. Acceptance...
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