Corporation and Teamwork

Topics: Corporation, Single person, Economics Pages: 3 (762 words) Published: March 18, 2013
Importance of Teamwork in Business

Teamwork can be simply defined, "as a state of unity achieved within a group of people working for a specific economic benefit." The phenomenon of teamwork in business is basically used to define the coordination and cooperation, between the members of a partnership that form a business or a joint venture or a private limited company. There are several, genuine advantages of preserving a team spirit, in such organizations, so as to ensure optimized output. There are several firms and companies, around the world, that operate as business groups and have a very well-defined set of rules and regulations, so as maintain the team spirit and ensure teamwork in their operations.

How is Teamwork Important in Business

There are numerous advantages of teamwork in business. Some of the genuine advantages of teamwork have been discussed below. The following advantages of teamwork are not only applicable for businesses but they can also be noticed in departments that function with the help of united efforts. 

United Effort
Teamwork in any business ensures that the task at hand is executed with the help of a united effort. The significance of the united effort is that the business organization that is concerned, functions like a single person, thereby enhancing the quality of the operations. There are, also, some other related factors, such as ensuring equality in profit-sharing and division of work. It also helps the members/owners of the organization to maintain a very good system, that designates appropriate authority and responsibility. A united effort, also, reflects good team building and team spirit.

Diviion of Work
Teamwork ensures that there is an equal and fair distribution of work within the organization. A fair work distribution ensures that every person or every working unit, executes any task at hand, with the best possible efficiency. The division of work, also, ensure that the work is done on time...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Teamwork Essay
  • Essay about Teamwork
  • TEAMWORK Essay
  • Teamwork Essay
  • Teamwork Essay
  • Teamwork Research Paper
  • Teamwork Essay
  • Teamwork Research Paper

Become a StudyMode Member

Sign Up - It's Free