...Using Teams in Production and Operations Management Governments around the globe are investing in businesses and banks in an effort to avoid a complete collapse of affected institutions. However, the general public is not convinced that the government will be able to effectively run the businesses it has acquired with any better dexterity than existing mismanaged government budgets. Furthermore, although the infusion of funds may temporarily secure investments, it does not effectively alter the transactions that instigated the decline. (/money, 2011) Inflated values of derivatives, fueled by ambitious speculation and fortunes amassed by paper transactions rose to catastrophic levels. Derivatives are commitments to purchase commodities or financial instruments at a fixed price, with an agreement to take profits if the value of the asset rises. In recent years, mortgages sold at subprime rates were bundled into securities. Lehman Brothers and Merrill Lynch created offsetting credit derivatives to protect investors in the event that these securities defaulted. Credit derivatives benefitted from profits derived from the increased number of subprime loans and home sales during the real estate bubble. When housing prices dropped and interest rates rose, many adjustable-rate subprime mortgage owners were unable to keep up with the higher monthly payment. Mortgages defaulted, demand for houses cooled abruptly, and the suddenly above market rates of credit derivatives collapsed....
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...TEAM MANAGEMENT MANA 4330, Section 001 Fall, 2010 Instructor: Dr. Terrance A. Wilensky Phone: 817- 272-0233(office); 214.735.7000 (cell) Office: 216 COBA E-Mail: twilensky@uta.edu Office Hours: 3:00-4:30 Tuesday and Thursday or by appointment Course Time & Location Tuesday and Thursday 11-12:20 PM COBA 245W Required Text: Lumsden, G., Lumsden, D., & Weithoff, C. (2010). Communicating in Groups and Teams: Sharing Leadership (5th. ed). Boston: Wadsworth/Cengage Learning Course Content All organizations depend on people to carry out their tasks and work toward common goals, whether you work for a large or small corporation, a federal or state agency, or own your own business. Much of the time we spend working in organizations we spend working in teams. This course is designed to familiarize you with the dynamics of working in teams, to become more effective team members, and to lead teams. To accomplish this, we will examine a number of factors that influence team member interaction and ultimately team performance through lectures, slides, films, demonstrations, cases, and student class presentations. Additionally, this course is intended to provide you with the understanding and skill necessary to communicate effectively in any group, whether it is a social club, a religious organization, or a high-level executive committee in your future career. But it goes more specifically to your preparation for the intensive work in teams that...
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...has two vital implications: 1. You will be working in and perhaps managing teams. 2. The ability to work in and lead teams is valuable to your employer and important to your career. Fortunately coursework focusing on team training can enhance students’ teamwork knowledge and skills. ■ 3 2 teamwork A national s Cisco Systems has grown, the computer networking giant has stayed nimble by delegat- LEARNING OBJECTIVES After studying Chapter 12, you should be able to LO1 Discuss how teams can contribute to an organization’s effectiveness. LO2 Distinguish the new team environment from that of traditional work groups. LO3 Summarize how groups become teams. LO4 Explain why groups sometimes fail. LO5 Describe how to build an effective team. LO6 List methods for managing a team’s relationships with other teams. LO7 Give examples of ways to manage conflict. ing work to teams whose membership crosses functional, departmental, and lines.1 Sometimes—as in Cisco’s case—teams “work,” but sometimes they don’t. The goal of this chapter is to help make sure that your management and work teams succeed rather than fail. Almost all companies now use teams to produce goods and services, CHAPTER 12 | Teamwork 279 LO1 Discuss how teams can contribute to an organization’s effectiveness THE CONTRIBUTIONS OF TEAMS Team-based approaches to work have generated excitement. Used appropriately, teams can be powerfully effective as a building block for organization structure...
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...Discuss the various stages a group of individuals may go through when becoming a team and in doing so pay particular attention to how conflict can be evident and overcome during the process.” The purpose of this essay is to discuss the various stages of team development & roles with in teams and to talk about conflict resolution within groups. Teams are typically a small (10-15) unit of people with a specific set of skills that have come together to achieve a common goal. Work teams can also be generally defined as an interdependent collection of individuals (Hackman, 1980). It is vital that individuals are capable to not only work efficiently on their own but also able to come together as a team and to compromise and communicate well. Good team management means the outcome of good team performance which is being proven to be the key building blocks within organisations (Boddy, 2011). The essay will provide an overview of two theories concerning team development and roles. The two ideas of focus will be on Belbin’s team roles and Tuckman’s team development theories as well as the Thomas- Kilmann’s Conflict Resolution mode. Team development in an interpersonal process (Buchanan, 2007). It has also been advised by management writer, Peter Drucker - whose work is greatly admired by Bill Gates founder of Microsoft, that “teams work best when there are few members” (Wartzman, 2013). This can be viewed as the forming stage of Tuckman’s development theory; a set of individuals...
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...Benefits of creating a team at work. Introduction “Remember upon the conduct of each depends the fate of all.” - Alexander the Great (BrainyQuote.com, 2012). This statement, made by one of the greatest leaders and military minds the world has ever known, applies to every aspect of business and life. Whether it’s a company, a sports team, or a military unit everyone in each of these groups depends on another person to succeed. In order to truly understand teamwork, team building, and what it means to be on a team, “team” must be defined. Team, by plain definition, is a group of people joined for a common goal, normally with talents or skills that complement each other to help them achieve their full potential (Armstrong, 2008, p.60-66). Teamwork consists of the following aspects: the characteristics of a team, leadership’s role in team building, and the benefits of a team approach in the business world. If a management team approaches and properly connects a team together, it will foster a better working environment for the employees, which will create a better atmosphere for the customer. Characteristics of a Team “The basic structure of a team includes a goal, a leader, a group, assessment, feedback and adjustment. Team development is a critical beginning in the process”(Business.com, 2012). There are ten characteristics of a team: (Gordon, 2002, p.185-188) 1. They must have clear goals. 2. Each person must have a defined role within the team. 3. There must...
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... This shift involves increasing the emphasis on the group or team. Many factors are driving this shift. Technology is a primary force as tasks have grown too complex for individuals to tackle alone. In addition, competitive forces have led many organizations to flatten the organization by reducing the numbers of levels of middle managers. Shifting authority and responsibility down to the bottom level allows teams to take over functions that used to be done by management. On a macro scale, as organizations involve multiple businesses, multiple industries and multiple countries, new and complex issues are evolving that rely on numerous interdependent groups with decisions made by teams consisting of members of these various groups. Even without these forces, others have found that harnessing the potential power of the group can have a dramatic effect on productivity and job satisfaction. Today, most organizations embrace the notion of teams. Teams have become the core unit in many organizations. Part of this is based on the fact (and supported by research) that teams are more effective in solving problems and learn more rapidly than individuals. When it is working well, groups or teams can enhance problem solving and creativity, generate understanding, acceptance, support, and commitment. It can also enhance morale, provide an outlet for affiliation, enhance self-esteem, and create consensus and security. A team is defined as a small number of people with complementary skills...
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...Team Strategy Plan Patty Haynes 09/08/14 MGT/311 – Week 4 Individual Mr. Gregory Martin University of Phoenix Material - Patty Haynes Team Strategy Plan 1. Complete the following table to address the creation of teams at Riordan Manufacturing. |Strategy |Strengths |Weaknesses | | |When objectives are clear for each employee|More emotion such as encouragement could be| |Setting clear objectives of what is |on what is expected of them, it will |used while setting objectives. If the | |expected when accomplishing goals |eliminate confusion and optimize efficiency|goals are set too high, employees will feel| | |while accomplishing the goals set as a |failure and pressure. | | |team. | | | |Using clear channels of communication can |When the channels of communication are | |Using clear channels of communication |eliminate confusion regarding any |interrupted the team is put in a | | |responsibilities amongst employees. Also, |standstill, this will hault all production,| | |directions...
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...NEERAJ SONI Phone: +1-647-879-7930; Email: Neeraj.Soni17@rotman.utoronto.ca; DOB: 26/10/1987 WORK EXPERIENCE ZS ASSOCIATES Gurgaon, India Business Associate Consultant; Pharmaceutical Industry (June 2011 – July 2015) Evaluated the impact of individual promotional channels/activities for various multi-million dollar drugs by carrying out a full Marketing Mix analysis. Determined how different marketing channels worked together to influence overall brand performance using Regression modelling and Pathway analyses and suggested optimized budget-spend scenarios for future. Evaluated the optimum future sales force effort needed for promoting various drugs (over $3B in sales) through resource allocation analysis using response modelling and other sales force sizing approaches (Top-Down, Bottom-up). Carried out a deep dive impact analysis for the patient help line tactic for 8 brands of a pharmaceutical company with total revenue of over $20 billion using various statistical analyses. Portfolio value based targeting for 3 Cardio-vascular products ($1.4 billion revenue) and preparing the call-plan for the Sales Force Representatives in the field with optimizing their Call frequencies and maximizing the reach towards the Brand. Helped the business unit with a 50% personnel reduction in sales force from 700 member to around 300 members by adjusting goals and customer targeting strategy, resulting in virtually no drop in sales at...
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...Electronic Product Division Division Interesting point They have several divisions such as Plastics, Food and electronics and EPD performs poorly due to decline market, due to reduce defence contracts. Most of Allentown Groups are directly controlled by management because of the proximity and presence. Culture is built differently in manufacturing driven company. There is poor relationship between divisions leading to problems in decision making, product development, and performance as a whole. Don Rogers – Vice Pres Allentown Electronic Products Division (EPD) Tom Noles – Director Organizational Effectiveness Allentown Materials Corpn. Don Rogers seeks help from Tom Noles Tom has come to study the company problems. Noles conducts study by having meetings and is ready with OE (Organizational Effectiveness Department) Poor relationships and communication is resulting in bad performance. But teams think it is because of bad market condition. - Decline in Defence markets - Need to enter consumer market where the business is growing - Demands faster product development and flexibility in responding to market needs. - Roger divided functional department to manage this EPD better. - Divisions created information bottle necks Marketing team focuses on product development, but cannot achieve results as other departments do not support as young marketing people act as Intervention of OE group -...
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...Learning Team Reflections, Week 5 Week 5 Learning Team Reflections University of Phoenix Charles Diggs, Fernanda Montero, Olivia Miller, Phoebe Ochoche Human Capital Management HRM531 Karin Wagner March 12, 2012 Learning Team Reflections, Week 5 During week 5 team A students discussed several topics. The topics include concept of training and development, different methods of delivering training, the process of performance improvement plan and how the results of performance improvement plan are used to determine training needs for employees. Learning team A members reflected over the topics covered during the week and each member stated the topics they were comfortable with and those they found difficult, during the weeks’ discussion with other classmates. Comfortable Topics Some of the team members found most of the topics discussed to be comfortable. The comfortable topics for the team members, were different types of training methods, and how to help managers determine if the training has been effective or not with an employee. Another team member found most of the topics on training to be comfortable because she has been a trainer and a trainee at her place of work. She stated that she was familiar with computer-based training, but learned that she was not the only one who believed they were not as effective in some cases. A team member said he is familiar with on the job training method and so found the topic interesting. A team member said she was excited...
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...Case study on ‘Two tough calls’ Summary of the case background The reporter of this case is a twenty seven year old woman (let’s call her ‘Susan’) who is the program manager for the soft goods at an online business firm(let's call it ‘ABC Groups’)that sold large varieties of consumer products. The ABC Groups was started by ex-Microsoft employees and right now they are facing a budget freeze. Susan's gives a better picture of the company’s existing culture and policies from her point of view throughout this case. Susan explains how she was disliked by other senior managers when she got promoted to managerial position from technical lead in just six months. She clearly states her distastes towards the egotistic attitude among the management and how she faced many push backs from other managers. The company has a performance rating policy according to which if an employee scores below three out of a highest scale of four, then he should attend a performance improvement plan (PIP) which is certainly the first step towards firing that person. Susan clearly states she wasn’t a fan of PIPs because she felt it was condescending. The bottom line of this case is the ethical and practical issues that Susan has to face in making a decision to terminate two poorly performing managers, Terry and Phil working in her group. Terry had worked previously in a company as an engineer on turbine design and was not hired to the company through the normal hiring process. Even though he...
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...Performance Improvement Plan (PIP) Confidential TO: (insert employee’s name) FROM: (insert manager’s name) DATE: (insert date) RE: Performance Improvement Plan (PIP) The purpose of this Performance Improvement Plan (PIP) is to define serious areas of concern, gaps in your work performance, reiterate Composite Maison Inc. expectations, and allow you the opportunity to demonstrate improvement and commitment. Areas of Concern: Observations, Previous Discussions or Counseling: Step 1: Improvement Goals: These are the goals related to areas of concern to be improved and addressed: |1. | | |2. | | |3. | | . Step 2: Activity Goals: Listed below are activities that will help you reach each goal: |Goal # |Activity |How to Accomplish |Start Date |Projected | | | | | |Completion Date | | | ...
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...SEMO REGIONAL HOME CARE, LLC Performance Improvement Plan (PIP) Confidential The purpose of this Performance Improvement Plan (PIP) is to define serious areas of concern, gaps in work performance, reiterate SEMO REGIONAL HOME CARE, LLC’S expectations, and allow the opportunity to demonstrate improvement and commitment. Areas of Concern: Observations, Previous Discussions or Counseling: Step 1: Improvement Goals: These are the goals related to areas of concern to be improved and addressed: 1. 2. 3. . Step 2: Activity Goals: Listed below are activities that will help you reach each goal: Goal # Activity How to Accomplish Start Date Projected Completion Date Step 3: Resources: Listed below are resources available to complete Improvement activities (may include other people’s time or expertise, funds for training materials and activities, or time away from usual responsibilities.) 1. 2. 3. Management Support: Listed below are ways in which your manager will support your Improvement activities. 1. 2. 3. Step 4: Expectations: The following performance standards must be accomplished to demonstrate progress towards achievement of each Improvement goal: 1. 2. 3. 4. 5. Step 5 Progress Checkpoints: The following schedule will be used to evaluate your progress in meeting your Improvement activities. Goal # Activity Checkpoint Date Type...
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...Mark Connell- 20764962 Performance Management Package Performance Standards Any occupation requires certain knowledge, skills and abilities I order to perfrom the job at an acceptable level. The KSA’s for UWA academics can be broken up into three hey areas. These areas are: * Research * Teaching * Service For the teaching part of the role of academics, various KSA’s needed for this include: * Extensive knowledge of the material at hand, including knowledge of real world related problems. * Ability to express information and ideas in ways that students can understand and being able to engage with students. * Ability to be clear about learning outcomes with students and being able to align assessments with those outcomes. * Ability to respond to students queries about the topics covered and provide them with other helpful insight into the industry studied. * Be available for consultation outside class hours to ensure that students may ask questions if there is a lack of understanding. * Competent in literacy and a little bit of technology. The performance standards for the teaching part of consist on focusing on the effectiveness of teaching and the overall effect on the students. These include: * Supporting all students in order to ensure that they have the best chance of succeeding in the course. * Material is made easy to understand and teaching methods are engaging for students. * Assessments align well with outcomes...
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...supervisor must indicate the level of rating: M=Marginal or P= Proficient. If the overall is Achieves Standards Marginal or Below Standards, the supervisor must contact the Employee and Labor Relations Department for assistance in implementing a Performance Improvement Plan. EXCEEDS STANDARDS ACHIEVES STANDARDS BELOW STANDARDS P M JOB KNOWLEDGE: QUALITY OF WORK: PRODUCTIVITY: DEPENDABILITY: ATTENDANCE: RELATIONS WITH OTHERS: COMMITMENT TO SAFETY: SUPERVISORY ABILITY: (applicable only to designated supervisor positions) OVERALL APPRAISAL RATING: (one CATEGORY must BE CHECKED) Distribution: Original – Human Resources Copy – Supervisor Copy - Employee RATING FACTORS THE FOLLOWING ARE CONDITIONS THAT SHOULD BE CONSIDERED WHEN ASSESING THE EMPLOYEE’S PERFORMANCE: JOB KNOWLEDGE: In depth knowledge of all requirements of the job. How well does the employee understand all phases of the job as defined by the performance standards set for the position? QUALITY OF WORK: Accuracy and neatness. Does the employee produce a high quality work product? Is quality work a priority for the employee?...
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