31 Questions
What is the definition of a team according to the text?
A group of people with complementary skills who work together to achieve a specific goal
According to Andrew Carnegie, what is teamwork?
The ability to work together towards a common vision and organizational objectives
What is the role of a manager in manager-led teams?
Setting team goals, assigning tasks, and monitoring performance
Why are teams important in business according to the text?
To improve workplace performance, culture, customer service, and profitability
What differentiates a team from a group according to the text?
The ability to work together towards a common goal
What is the primary characteristic of self-managing teams?
Role of team supervisor eliminated
What is the primary purpose of Cross-Functional Teams?
To take advantage of expertise from various functional areas of the company
What is a potential problem associated with team cohesiveness?
Failure to consider outside influences
Which factor is considered imperative for the success of a team?
Balancing the strengths of the team
What motivates individuals to engage in business activities?
Profit
What does the Human Resources (HR) Manager primarily focus on?
Employee treatment and laws
What do Operations Managers primarily do with resources?
Turn resources into goods or services
What is the key responsibility of accountants?
Measuring, summarizing, and communicating financial and managerial information
What can erode team performance according to the text?
Low cooperation and poor management support
What is the primary purpose of exclusive teams?
To exclude diverse viewpoints for stronger solutions
A team is defined as a group of people with complementary skills who work together to achieve a specific ______.
goal
Teamwork is the ability to work together towards a common ______.
vision
Teams should improve workplace performance in the areas of productivity, positive culture, improvement in customer service, competitiveness, profitability, lower absenteeism, worker satisfaction, quality of life, shared accountability for achieving specific ______.
goals
Manager-Led Teams have a manager or supervisor in charge of setting team goals, assigning tasks, and monitoring the team’s ______.
performance
Self-Managing teams have the role of team supervisor ______.
eliminated
A group might be together or have meetings, but they don’t have to work together to achieve ______.
goals
Cross-Functional Teams are designed to take advantage of the special expertise of members drawn from different functional areas of the company. Virtual Teams have members in any location or time zone
7 Factors of Effective Teamwork include strong balance on a team, imperative for success. What skills does a team need. What makes a team cohesive. Interpersonal Skills, Communication Skills, and Technical Skills – how to do the actual work are essential for effective teamwork
Smaller size, similarity of members, and achieving success are factors that contribute to team cohesion. Exclusiveness and competition against other teams also play a role in team cohesion. A team can be TOO cohesive: They get along well, but diverse teams can achieve stronger solutions due to power of different points of view. Groupthink can be a problem —the tendency to conform to group pressure in making decisions, while failing to think critically or to consider outside influences.
Teamwork Roles include Information Seeking, Elaborating, Urging, Monitoring, Reality Testing, Direction Giving, Information Giving, Process Analyzing, Enforcing, Supporting, Tension Relieving, Consensus Building, Summarizing, Harmonizing, Confronting, Energizing, Developing, Empathizing, and Relationship-Building Roles
How to Erode Team Performance: low cooperation (blocking), poor management support, failure to delegate, and competing priorities
Chapter 2 – Foundations of Business Concept of Business and Profit: Businesses produce or sell products or services in order to make a profit. Profit is the money left over from revenues after a firm pays its expenses. Profit motivates individuals to engage in business activities
Stakeholders: Any person or group with an interest in the success or failure of the company. Stakeholders involved in Business: customers, vendors, employees, landlords, bankers. Stakeholders Outside: general public, the environment, and various government departments
Functional Areas of Business: Human Resources HR Manager Responsibilities include staffing plans, recruitment, performance management, employee treatment and laws, succession plans, and compensation and benefits
Functional Areas of Business: Operations managers turn resources into goods or services: Tangible Products (ex. Apple) and Intangible Products (hospitals and healthcare). Quality Maintenance, Productivity & efficiency, Scheduling, and Supply chain management are essential in operations management
Functional Areas of Business: What Accountants Do. They measure, summarize, and communicate financial & managerial info, and advise on financial matters. Two Fields of Accounting: Financial: reporting results
Test your knowledge of teamwork, business foundations, economics, ethics, and global business environment. Learn about the definition of a team, the importance of teamwork, and its role in achieving organizational objectives.
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