Rsm100 Required Readings Summaries

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RSM100 Required Readings Summaries
Nov. 23 - The Discipline of Teams
* Teams and good performance are inseparable
* Teamwork represent a set of values that encourage listening and responding constructively to views expressed by others * Group work is NOT same as team
* Working-group focuses on individual goals
* strong, clearly focused leader
* group’s purpose = organizational mission
* individual work product
* efficient meetings
* measured by influence on others (ex. financial performance) * discusses, decides, delegates
* Teams require both individual and mutual accountability * Shared leadership roles
* Specific team purpose that differs from mission
* Collective work products
* Open-ended discussion and active problem-solving meetings * Performance assessed by work products
* Discusses, decides and does real work together

A team is a small number of people with complementary skills who are committed to a common purpose, set of performance goals and approach for which they had themselves mutually accountable.

Teams:
* Common commitment
* Develop direction and momentum towards a common purpose * Invest a lot of time exploring, shaping and agreeing on a purpose * Translate a common purpose into specific performance goals * Different from organizational mission

Building Team Performance:
1. Establish urgency, demanding performance standards and direction 2. Select members for skills and skill potential, not personality 3. Initial impressions are important
4. Set clear rules of behavior, such as contribution
5. Set a few immediate performance-oriented tasks and goals 6. Regular fresh facts and info
7. Exploit power of positive feedback, recognition
Skills required in a team:
* Technical/Functional expertise
* Problem-solving / Decision-making
* Interpersonal skills

Classification of Teams:
1. Teams that Recommend Things
a. Project group, safety groups; predetermined completion dates 2. Teams that make or do things
b. Manufacturing, operations, development; ongoing activities 3. Teams that run things
Teams will become the primary unit of performance in a high-performance organization most practical and powerful vehicle at top management’s disposal

Nov. 16 #1: Level 5 Leadership
Level 5 Leadership:
* Someone who blends extreme personal humility (modesty, determination, takes on blame, thinks for the future) with intense professional will (high standards, intense achiever, credits others) * Transforms a company from “good” to “great”

* Darwin Smith: a shy, awkward yet fierce and stoic level 5 leader (transformed Kimberly-Clark) * Humility + Will = Level 5
Other Factors:
1) First Who
a. People first, strategy second
b. Getting the right people to do the right jobs
2) Stockdale Paradox
c. Contradictory belief that they face the most brutal reality that believe that they will prevail eventually 3) Buildup-Breakthrough Flywheel
d. Transformation from good to great builds with momentum overtime 4) The Hedgehog Concept
e. Simple and focused
f. Understand:
i. What company can be best at
ii. How its economics works best
iii. How to ignite passion among people
5) Technology Accelerators
6) A Culture of Discipline
g. Disciplined people – no need for hierchy
h. Disciplined thoughts – no need for bureaucracy
i. Disciplined actions – no need for excessive control Level 1 – Capable Individual
Level 2 – Contributing Team Member
Level 3- Competent Manager
Level 4 – Effective Leader
Born or Bred? – Two categories of people: those who just who don’t have it in them (at most a level 4 leader) and those who evolve into a level 5 leader (sometimes under certain life-changing circumstances)

Nov. 16 #2:...
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