...Team Synergy’s Top Ten Guidelines 1. Choose the right team members. Not all team leader/managers will have this opportunity, but certainly if you do, it’s probably the most critical. As Goodbody (2005) points out, you first objective is to make sure you have all of the knowledge and skills that you need within the team with the fewest number of people. The larger the group, the more complex it becomes to manage. When considering skill sets, you must not only take into account technical expertise but other skills such as organizational understanding and communication. 2. Defining goals/expectations/vision Having a mission is setting the plan, where the team members will be able to work to one goal to accomplish the task. This is the first practice a Manager must consider in order to get to be successfully. Townsend, DeMarie and Hendrickson (1998) said that virtual teams should determine the configuration of individual teams, dictate their mission, and ultimately determine the type of technical system required and the requisite skills and orientation of the team and its members. By setting expectations and goals each team member will have a clear understanding of what the goals are, and are expected of them to achieve and attain those goals. 3. Defined roles/ responsibilities Members of virtual team will be geographically isolated where the team manager will probably not be aware of the other roles and responsibilities that each member has at their respective...
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...& ADTRANZ AQUISITION CASE) ] BBDs kin approach to integration of acquired companies enabled greater combination potential as this approach brought about strong employee support because there was the belief that BBD would protect jobs and invest in new product lines. BBD’s approach to integration was seen in the acquiring of Adtranz despite the fact that the company agreed to a limited due diligence process for the deal to go through. The agreement to a limited due diligence process was due to the fact that there were great strategy and business similarity between the two companies and Adtranz was working to streamline its operations and this was a concept that BT was willing to buy into. The integrative model taken by BBD defines how synergy realization is possible when there are similarities between the...
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...strength and weakness in the companies is the (Efficiency in communication skills) for example while company A's weakness due to the bad communicate with the customers and clients this could be the strength of company B which has excellent communication with the clients which is approaching the prospective of the clients and achieve their desires and it just makes the clients want to start a business with this company. Human resource assessment for example the attendance of the employees could be a weakness point to company A which is suffering from low rate of attendance but actually it will be a strength point to company B which has an excellent rate of attendance. Other example of human resource assessment is the (synergy effect) it means the group or team working when they work together their outcomes will be...
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...ORGANIZATIONAL BEHAVIOR Project Synopsis TEAM WORK AND SYNERGY IN ORGANIZATIONS Course Faculty: Prof. Sumita Rai Submitted by Group – 7 Rachit (43) Raman(45) Sachin (46) Sandeep Jamdagni(48) Sandeep Yadav(49) Subodh (51) Arun Kumar 1. OBJECTIVE & REASON FOR CHOOSING THE TOPIC: Our group has chosen the topic “Team work and synergy in organizations” which is quite relevant in today’s global scenario in several organizations. The reasons for choosing the topic are:- * In this globalized world, most of the multi-national corporations work on “team concept” * Inter-departmental co-operation and co-ordination are the buzzwords for success in organizations. * Team work makes our life easier. * It will help us in studying the individual behavior while working in a group. Objective of the project is to analyze the synergy and effectiveness of teams in the organizations working on new concept. 2. ‘OLD CONCEPT’ VS ‘NEW CONCEPT’ The old concept of work teams is that of problem-solving teams who could only recommend but not implement their recommendations. They usually met once a week to share and suggest ideas for process improvement. Merrill and Lynch had implemented this concept. However, in modern times cross-cultural and virtual teams have become the norm. Cross-cultural teams comprise of people of different departments of usually same hierarchical level like existing in most of the MNCs. Virtual teams comprise of people spread far and...
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...5 Factors Affecting Team Effectiveness In An Organisation Some of the factors affecting team effectiveness are shown as follows: While informal work groups often develop feelings of close affiliation among members, formal work groups sometimes do not develop such loyalty. It is very important for management to develop, among the group members, such characteristics as dedication and cohesiveness. As Likert concludes: “Management will make full use of the potential capacities of its human resources only when each person in the organization is a member of one or more effectively functioning work groups that have a high degree of group loyalty, effective skills of interaction, and high performance goals.” To build an effective team, the management must provide an environment which is conducive to team work with an attitude which is understanding and supportive of team efforts and innovation. It is a real challenge to management to learn how to use groups more effectively. a. Individuals: A group is as good as the individuals who form the group. If the individuals are dedicated and consciously aware of their roles and their responsibilities towards accomplishing their group and organizational objectives, then the group would be an effective group. It is necessary and important that all members must share the enthusiasm of group activities and group accomplishments. b. Group size: It is difficult to determine as to what the optimal group size is, but such a size would depend...
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...in the process. Please let me know if you have questions or need further information. Yours truly, Brian Smith Enclosure Future analytical approach It is my opinion, that when dealing with future acquisitions, financial and accounting analysis is simply not enough. Therefore, it is my recommendation that an aggregate analytical approach include not just fundamental analysis, but also; corporate culture, synergy and customer analysis. Corporate Culture Analysis Future acquisitions need to carefully examine the morale and culture of the company being sought after. An overly dependent employee base that clings to its President and CEO presents a certain risk in production loss should the CEO exit the firm. As with the acquisition of Bainbridge House, morale dropped and attrition skyrocketed after Mr. Bainbridge’s passing. A high attrition rate and low morale has been shown to negatively affect production and overall efficiency. Therefore, a careful analysis needs to identify the independence and competitiveness of company employees. Synergy Analysis It is not enough to purchase a company based on fundamentals alone. If the company cultures of your firm and the firm being acquired are incompatible, valuable time will be lost looking for personnel replacements. Incompatibilities arise when the two companies have completely different goals and visions. As such, I recommend analyzing the takeover target’s mission statement, managerial goals, and obtaining an...
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...Sterling Household Products Company Acquisition of the Germicidal, Sanitation and Anitseptic Unit of Montagne Medical Instruments Company Executive Summary Sterling Household Products Company manufactured and marketed a wide variety of consumer goods products which were sold domestically as well internationally. Despite having great products and being positioned well in the industry, Sterling’s growth prospects were limited. Sterling’s decision to acquire the germicidal, sanitation and antiseptic production unit of Montagne Medical Instruments Company could provide the much needed growth. Furthermore, the division was well aligned with Sterling’s existing operations, helping Sterling diversify its business without compromising on its core competency. Assuming the growth rate of 3% for terminal value calculation, aligned with the GDP growth of US, the net present value (NPV) of the investment comes to $99.7 million. We also analyzed the NPV of acquisition under two scenarios - 0% growth and terminal value calculated using multiples of 9. As the acquisition provides immense opportunities for Sterling to further expand its production capacity, we calculate the NPV of $167 million. We firmly believe that Sterling should acquire Montagne Medical’s unit as it presents positive synergistic effect on Sterling’s cash flows. Business Risk The unlevered asset beta represents the pure business risk of the company. It does not take into consideration the effect of debt leverage...
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...security guard industry, Pinkerton, for $100 million. Throughout the bidding process, he has faced skepticism from his board of directors as they consider the purchase to result in a overload for CPP’s corporate management. Can Mr. Wathen convince his board of directors that Pinkerton is worth the $100 million? If yes, how should Mr. Wathen finance the acquisition? Is he in any danger of being outbid by other players? We value Pinkerton under American Brands to $73.25 million, using a P/E multiple (Wackenhut) of 12.2 times Pinkerton’s NOPLAT in 1988 of $5.98 million. For Wathen however, including the possibility of any synergies created by a potential takeover, we reach a final value of $187.06 million, where synergy effects value is estimated to $19.4 million. However, in a pessimistic scenario the value of Pinkerton would be $141.51 million without any synergy effects. Taking the assumption of a 50/50 probability of either of the two scenarios might occur (in lack of better information); we reach an estimated value of $166.28 million. We recommend that Wathen bid the $100 million, by raising $75 million debt and $25 million equity. Wathen (CPP) should bid on Pinkerton, as our estimated value of a merger exceeds the cost. However, Wathen has insufficient solvency to finance the entire bid with debt, and should thus choose the other option with 75% debt financing. An overview of the valuation, when using the $75 million debt to finance the bid can be seen in exhibit 1. By estimating...
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...Groups and Teams MGT 307 October 3, 2011 Groups and Teams Many may think of groups and teams to be one in the same when in fact they are virtual opposites. They each hold a function different from the other and are affected by different factors. The effect of workplace diversity is among one of the biggest differences in performance as discussed below. Groups Groups are defined as “two or more individuals interacting and interdependent, who have come together to achieve particular objectives” (Robbins & Judge, 2990 p 323). A group’s purpose in the work setting is to share information and make decisions to aid in the success of their co-workers. Groups do not do collaborative work; their performance is the summation of each individual’s personal contribution. For example, in an organization that operates several programs operating under one larger program there may be several people in the building who come together in a group to make decisions but none of them collaborate because they all work on different programs. Therefore, the successes of the organization for any given month will be a summation of individual successes (Robbins & Judge, 2009) There are several different classifications of groups: Formal groups, informal groups, command groups, task groups, interest groups, and friendship groups. Formal groups are defined organizational structure and defined work assignments. Informal groups are referred to as alliances that are not formally structured...
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...The Major Strengths of Teams A perfect example of the old adage, “two heads are better than one,” can be found in the modern-day workplace in the form of a team. There are many advantages to utilizing teams in an effort to strengthen the workplace. According to Lehman and DuFrene (2014), “The self-directed work team can become the basic organizational building block to best ensure success in dynamic global competition” (p. 17). Successful teams develop synergy, “a situation in which the whole is greater than the sum of the parts” (Lehman & DuFrene, 2014, p. 16). Through synergy, companies can reach their goals and be more successful and competitive. “A group of people that work well together, that truly gel as a team, can achieve great things” (Mehok, 2013, 21-22). Well-developed teams share common goals and attitudes, yet their different ideas and approaches add to enrich their production. They work together to better their company and positively advance. The successes and strengths of teams in the workplace are basically the result of the following ingredients: 1) Teams make workers happier by providing a sense of ownership. 2) Increase efficiency by eliminating management layers. 3) Enable a company to benefit from the talents of a whole workforce (Lehman & DuFrene, 2014, p. 16). In conclusion, teams strengthen the workplace and benefit its members. Teams create a “win\win” situation for the company and the individual. Teams strengthen the company with...
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...Case 7: The Forgotten Group Member Paul Leach II Paul.leach@laverne.edu MGMT-591 Dr. Cindy Phan Christine Spencer, as Team Coordinator, needed to understand the stages of group development in order for the group assignment to run efficiently. Once the forming stage was underway, each member should have been interested in getting to know each other and discovering what is considered acceptable behavior, in determining the real task of the team, and in defining group rules. Christine was able to identify each of the member’s qualities, strengths and weaknesses during the first meeting. After this stage was completed, the group would enter the storming stage. In this stage, the member’s expectations should be clarified, and attention shifts toward obstacles standing in the way of team goal, such as team member’s non-participation. The group is on the verge of commencing the next stage, the norming stage, whereas the members feel a sense of closeness and a sense of harmony. However, Mike still had not joined in this sense of harmony and closeness. thus the group is still stuck in the storming stage. The primary problem is the lack of defined team goals and tasks. This is directly related to the lack of the leadership role of Christine. During the storming stage, Christine should have assigned specific tasks for each group member in order to keep the group organized and productive based upon the understanding she had of each member’s qualities. This also can be achieved...
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...effort on the part of a group of persons acting together as a team or in the interests of a common cause or working in a team. Teamwork is often a crucial part of a business, as it is often necessary for colleagues to work well together, trying their best in any circumstance. Teamwork means that people will try to cooperate, using their individual skills and providing constructive feedback, despite any personal conflict between individuals. Teamwork can be likened to two compounds, almost essential to modern life. It’s the glue which keeps a team together, a bond which promotes strength, unity, reliability and support. Teamwork is also the oil that makes the team work. It can enable smoother movement towards targets, can prolong forward momentum, and can help teams to overcome obstacles. Teamwork has the potential to underpin so much of what is valuable in work. In fact, the benefits to be gained from teamwork synergies are essential for the effective management of resources. Teamwork matters because : MOTIVATION, You have a greater number of people working together in close proximity on the same goal. The motivation factor is going to be high especially when the team members understand each other, have a sense of healthy competition, are willing to help the others along and are big-hearted enough to take pride in each other’s successes. After all, what’s the fun in celebrating if you are going to do it alone? Regular team-bonding exercises and outings will also lead to strong friendships...
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...leadership role that also is heavily integrated into team projects. This balance of leadership and equal producer allows me to stay engaged and balance the needs of my reporting workforce. The new organizational culture requires managers to develop new skills in order to lead, direct and motivate groups to act synergistically (Barsade 2008). However, group dynamics is a concept that many managers do not yet understood. Consequently this can lead to bad group dynamics resulting in negative synergy, reduced productivity and wounded morale (Levi 2008). Managers are obliged to rectify this by building cohesion and trust between group members (Carron & Brawley 2009). Some group efforts are more successful than others? Group members, group size, level of conflict and internal pressures to conform are all factors that affect the level of cohesiveness in a group. In order to enhance a groups competitive position and benefit from different viewpoints, organizations today increasingly rely on cross-functional teams composed of members from different functional backgrounds. Based on personal experience groups tend to yield better more formulated results. Studies performed by Edward Randel suggest that employees of a corporation who had participated in training for effective teamwork reported their performance was higher in groups than alone. (Randel, E. 2008) The surveys found that groups brainstormed only half the ideas of the individuals. If teams are formed to increase competitiveness but...
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...Groups and teams are two different things that most people usually do not take the time to differentiate. They are, however, two very different things. According to the University of Phoenix’s Learning Team Toolkit (as cited in Stewart, G., Manz, C., & Sims, H., 1999) groups are “two or more people who interact in some way” and teams are “groups with shared commitments and goals.” The Learning Team Toolkit (as cited in Stewart, G., Manz, C., & Sims, H. 1999) goes on to say that these two definitions suggest that teams are more than groups. Teams are groups that have a purpose or that come together to accomplish some goal or purpose. Groups may come together for any number of reasons. Groups can be local citizens who come together once a week to play bingo, spectators at a sporting event who have nothing in common save the fact that they all want to watch the same game, or even a large group from the same town who are at the grocery store at the same time. All three of the above examples are groups. They do not have a lot in common, although they could have many similarities, and are still part of the group. Groups could be grouped together for virtually any reason, such as hair color, geographic location, or social class. While it is possible for individuals in groups to happen to share some common goals or purposes, it is not the reason they are grouped together, nor is it the case all of the time for all groups. Teams are groups of people...
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...Week Three Reflections Learning Team A discussed the learning objectives assigned for week three of class. Specifically, the team members discussed strategies to help develop effective groups and teams. The team members also discussed strategies to resolve conflict within organizations. The discussion included topics with which the team members felt comfortable or struggled with and how the weekly topics applied to team members’ business field. This paper summarizes Learning Team A’s discussions. Strategies to Develop Effective Groups and Teams The team members discussed the difference between the definitions of work group and work team. The work group share information and make decisions that assists each member perform tasks in his area of responsibility (Robbins & Judge, 2011). The group members do not engage in “collective work that requires joint effort (Robbins & Judge, 2011, Chapter 10) like a work team does. A work group does not create the synergy of a work team. The individual is accountable in a work group but both the individual and team members mutually are accountable. Work group members provide random and varied skills, whereas work team members bring complementary skills to the joint effort. Robbins and Judge (2011) categorized the major characteristics of effective teams into three general categories: context, composition, and process. In the context category, managers play a vital role in providing leadership, structure, a climate of trust...
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