Business Test 1: Teamwork and Foundations
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Questions and Answers

What is the definition of a team according to the text?

  • A group of individuals with similar skills but no shared goals
  • A group of people with complementary skills who work together to achieve a specific goal (correct)
  • A group of people who work together occasionally
  • A group of individuals who meet regularly but don't work together
  • According to Andrew Carnegie, what is teamwork?

  • The ability to direct individual accomplishments towards personal goals
  • The ability to work individually towards personal objectives
  • The ability to work together towards a common vision and organizational objectives (correct)
  • The ability to work with minimal interaction towards personal achievements
  • What is the role of a manager in manager-led teams?

  • Providing little autonomy to individual team members
  • Promoting self-managing teams
  • Eliminating the role of team supervisor
  • Setting team goals, assigning tasks, and monitoring performance (correct)
  • Why are teams important in business according to the text?

    <p>To improve workplace performance, culture, customer service, and profitability</p> Signup and view all the answers

    What differentiates a team from a group according to the text?

    <p>The ability to work together towards a common goal</p> Signup and view all the answers

    What is the primary characteristic of self-managing teams?

    <p>Role of team supervisor eliminated</p> Signup and view all the answers

    What is the primary purpose of Cross-Functional Teams?

    <p>To take advantage of expertise from various functional areas of the company</p> Signup and view all the answers

    What is a potential problem associated with team cohesiveness?

    <p>Failure to consider outside influences</p> Signup and view all the answers

    Which factor is considered imperative for the success of a team?

    <p>Balancing the strengths of the team</p> Signup and view all the answers

    What motivates individuals to engage in business activities?

    <p>Profit</p> Signup and view all the answers

    What does the Human Resources (HR) Manager primarily focus on?

    <p>Employee treatment and laws</p> Signup and view all the answers

    What do Operations Managers primarily do with resources?

    <p>Turn resources into goods or services</p> Signup and view all the answers

    What is the key responsibility of accountants?

    <p>Measuring, summarizing, and communicating financial and managerial information</p> Signup and view all the answers

    What can erode team performance according to the text?

    <p>Low cooperation and poor management support</p> Signup and view all the answers

    What is the primary purpose of exclusive teams?

    <p>To exclude diverse viewpoints for stronger solutions</p> Signup and view all the answers

    A team is defined as a group of people with complementary skills who work together to achieve a specific ______.

    <p>goal</p> Signup and view all the answers

    Teamwork is the ability to work together towards a common ______.

    <p>vision</p> Signup and view all the answers

    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 ______.

    <p>goals</p> Signup and view all the answers

    Manager-Led Teams have a manager or supervisor in charge of setting team goals, assigning tasks, and monitoring the team’s ______.

    <p>performance</p> Signup and view all the answers

    Self-Managing teams have the role of team supervisor ______.

    <p>eliminated</p> Signup and view all the answers

    A group might be together or have meetings, but they don’t have to work together to achieve ______.

    <p>goals</p> Signup and view all the answers

    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

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    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

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    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.

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    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

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    How to Erode Team Performance: low cooperation (blocking), poor management support, failure to delegate, and competing priorities

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    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

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    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

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    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

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    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

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    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

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