...answering phone calls at Synergy Orthopedics needs additional resources to allow better customer service. The call volume has doubled in the year since the Physicians have started taking more ER, emergency room, call. The hold time for patients calling to schedule appointments has also increased that is a direct reflection on the office. To promote better customer service I am proposing the idea of rotating the current staff through a schedule of solely answering the incoming phone calls. With the $20,000 allocated to Synergy Orthopedics, I propose that the empty office become equipped with a desk, chair, computer, and phone to create a single person call center. To complete this change, the staff will have to rely more on teamwork to allow the office to continue to run efficiently. Health care teams Teamwork is not a new process in health care. Since the beginning of organized health care individual health care providers have had assistance from other providers. The teamwork model is changing in modern health care to include the staff involved in the implementation of the decisions of the team. Diverse and synergistic teams are established to create procedures, accomplish goals, and brainstorm possible outcomes for problems presented to the team. “One of the biggest benefits of teamwork is synergy—the creation of a whole that is greater than the sum of its parts. Synergy occurs when teams use their resources...
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...Merger Integration: Delivering on the Promise A Series of Viewpoints on Mergers, Acquisitions, and Integration Executive Summary From airlines to automobiles to advertising, the urge to merge has escalated steadily over the past decade. In 2000 alone there were 9,472 merger and acquisition transactions in the United States — a new record. Although this rush to the altar may have been grounded in solid synergistic potential, all too many of these marriages quickly faltered. Booz •Allen & Hamilton recently conducted a study of deals that closed in 1997 and 1998 and discovered that 53 percent of the deals had failed to deliver their expected results. Although senior executives devote exhaustive hours to striking the right deal, it is merely the beginning of the long and tortuous merger integration process. In fact, structuring a deal is relatively easy; implementing one is nothing short of heroic. As an executive presiding over a newly merged company, you are inundated with competing priorities and demands. But the most important questions before you are these: • How do you deliver on the value you promised shareholders and investors while simultaneously “keeping the wheels on the business”? • In the wake of a merger, how do you successfully integrate operations while maintaining your focus on customers? Although no one-size-fits-all formula can apply to every company’s unique situation, in our experience four principles are the key to success in merger...
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...challenge and give substantial attention to financial integration soon after announcing the deal. However, this urgency creates its own problems. Under time pressure, finance professionals will feel rushed to combine disparate numbers and harmonize divergent processes. If they do not yet have a clear vision of the new company’s future state, they may implement manual temporary work-arounds, such as preparing manual reconciliations of customer accounts, that require incremental work effort, cost and risk to Finance. By focusing only on interim integration work and not considering the future state in parallel, many companies risk that the manual interim state will one day become the future state. Maintaining disparate and manually integrated systems limits opportunity for future standardization and cost reduction, thereby preventing promised synergy capture. Only through proper investment in process and system automation, such as integrating financial and management reporting processes and tools, can the cost of Finance be reduced, service levels to the business be optimized, and finance function synergies be realized. Companies who implement temporary manual solutions to integrate the...
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...of Opus CMC to tap into its capabilities in high-end mortgage BPO, and Genpact’s acquisition of Triumph Engineering to bolster engineering capabilities • Manage cash reserves more effectively to meet shareholders’ expectations • Capture opportunities from client divestitures of services assets; examples include Cognizant’s acquisition of ING’s and CoreLogic’s captives, TCS’ and Wipro’s acquisition of Citigroup’s captives, and Tech Mahindra’s acquisition of Hutch BPO Done well, M&A strategies can help Indian players tap into $2 billion to $4 billion in revenues each year. Yet, about 70 percent of mergers fail to create value, as the consolidated companies receive a one-time revenue uplift but miss powerful opportunities to create revenue synergies. This paper takes a closer look at the Indian IT-BPO industry’s M&A track record and explores how to harness the power of consolidation to create more value. M&A as the Preferred Growth Strategy Mergers and acquisitions are taking place at...
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...Title: Being Part of a team is more important than leading it Being part of a team is more important than leading it." Discuss. Author William Nippard on teamwork states that “more than 80% of fortune 500 companies subscribe to teamwork. Teamwork brings success no matter how you define victory.”Teamwork is about a group of people working towards a common objective in a mutually agreeable manner. Being part of team can be a highly rewarding and can help both the individual and the team with increases in individual and organizational creativity, innovation and synergy. These rewards as well as self development and organistational effectiveness are key reasons that being part of the team is more important than leading Claim, data warrant innovation Being part of the team can increase personal creativity and learning new skills and help to deliver any output. In today’s complex business environment, teams are an essential mechanism for delivering any output from something such as building a car to deploying an IT system. Teamwork provides a climate of collaboration such as that ideas can be shared and a common ground established to deliver the required objective. This idea has also been embraced by the business community. Yuki Funo the Chairman and CEO of Toyota motor, states that the “Toyota way is the way to number 1”. One of the principles of the Toyota way is to ‘add value to the organization by developing your people' and people can be developed by molding them into exceptional...
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...Habit 6 exercises all of the other habits together as one to prepare us for synergy. Covey’s description of synergy is that “the whole is greater than the sum of its parts” (Covey, 2004). Synergy is also described as the foundation of principle-centered leadership and the ability to unleash the strengths within people to make something greater. The challenge of synergy is in applying it to the principles of creative cooperation in our social interactions. Covey illustrates the application of synergy in social interactions in settings such as in the classroom, in business and in general communication. In the classroom and in business, synergy is created when we have the courage to be our authentic selves and to open up ourselves to the different and new perspectives. From there, synergy can be formed in team by coming up with new possibilities. Covey provides a model that relates trust and communication. The point of both the lowest level of communication and trust is characterized by defensiveness, protectiveness and formal language. This level only leads to Win/Lose, Lose/Win or Lose/Lose situations. In the middle level of the model, communication is respectful. However, people in the middle want to avoid the possibility of confrontation, so they communicate politely rather than empathetically. This limits the level of synergy because people are not open to different and new ideas. The highest level of trust and communication leads to the Win/Win situation because people are...
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...Groups and Teams Paper MGT/307 May 23, 2011 Paul Porch Groups and Teams Paper When asked to explain the difference between a group and a team, some people have a blank stare in their face because they believe that a group and a team share the same definition. Although the two words do have similar characteristics, their definitions are different. In this paper the subject to explain is the differences between a group and a team, why it is important for workplace diversity in an organization, and how it relates to team dynamics in the workplace. A group is defined as two or more individuals, interacting and interdependent, who have come together to achieve particular objectives (Robbins & Judge, 2009). Groups share information and make decisions to help one another perform within their area of responsibility. Groups can either be informal or formal. Informal groups are natural formations in an organization that interact outside the work environment, such as having coffee or lunch on the regular. These interactions greatly affect each individual’s behavior and performance in the work environment. On the other hand, formal groups in an organization have designated work assignments and established tasks. The behavior of the individual members in formal groups should engage in are stipulated by and directed toward organizational goals. Work groups have no positive synergy; instead it is neutral and sometimes even negative. Work groups do not contribute as much effort and...
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...Exciting Life, Accomplishment, Pleasure, Equality, Friendship What Is Important to Managers: Sense of Accomplishment, equality, and Self-Respect --According to Rokeach, Terminal_____ values refer to desirable end-states of existence. Instrumental Values: Ambitious, Broadminded, Capable, Cheerful, Clean, Honest, Responsible Hard working-broadminded, capable. What are intrinsic factors of motivation? Internal desires to perform a particular task, people do certain activities because it gives them pleasure, develops a particular skill or its morally the right thing to do. Examples: Achievement, Recognition, Work Itself, Responsibility, Advancement, Growth. What are extrinsic factors of motivation? Factors external to the individual and unrelated to the tasks they are performing. Examples include: Policy and administration, Supervision, Relationship with supervisor, Work conditions, Salary, Relationship with peers Motivational factors are intrinsic factors, like advancement, recognition, responsibility, and achievement, that are directly related to job satisfaction. The absence of motivational factors does not cause dissatisfaction; rather, a state of neutrality. Cognitive evaluation theory A version of self-determination theory which holds that allocating extrinsic rewards for behavior that had...
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...Workplace Diversity and Team Dynamics Mary Martin University of Phoenix MGT307-Organizational Behavior and Group Dynamics Joey Martin, MBA April 25, 2011 Workplace Diversity and Team Dynamics Teamwork is the mantra of the business world for the new millennium. Organizations are realizing that collective problem-solving, in a team setting, enhances creative and critical thinking skills, thus elevating productivity. This paper will explore the characteristics of and differences between groups and teams. Additionally, workplace diversity relevance to team dynamics will be explored in an effort to better understand this phenomenon called teamwork. Groups Groups consist of two or more individuals who come together to achieve particular objectives. Work groups share information and make decisions that help members perform within each individual's area of responsibility. The group focuses on improving individual results. Work groups do not work together to achieve a communal goal, the result being that no positive synergy exists among members. Each member’s performance is the entirety of his or her contribution (Robbins & Judge, 2009). Teams Teams consist of a small grouping of people with complementary skills, working together to achieve a common purpose for which they hold themselves collectively accountable (Schermerhorn, Hunt, & Osborn, 2009). Work team goals are focused on the collective performance of the members’, the result of which is mutual...
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... 5. Limits and exclusions 6. Reviews with customer Step 2: Establishing Project Priorities Step 3: Creating the Work Breakdown Structure Step 4: Integrating the WBS with the Organization Step 5: Coding the WBS for the information system Chapter 5: Factors influencing the Quality of Estimation. Quality of Estimates 1. Planning Horizon 2. Project Duration 3. People 4. Project Structure and Organization 5. Padding Estimates 6. Organization Culture 7. Other (Non-project) Factors Chapter 6: How to draw Network diagram & Gantt chart * Draw Network diagram. ( See 162, 163, 166, 169, and 170 in textbook) * Gantt chart. ( See 175, and 176 in textbook) Chapter 9: Ways can reduce project duration. Reducing Project Duration to Reduce Project Cost * Identifying direct costs to reduce project time * Gather information about direct and indirect costs of specific project durations. * Search critical activities for lowest direct-cost activities to shorten project duration. * Compute total costs for specific durations and compare to benefits of reducing project time. Chapter 13: Earn value cost schedule cost system. EV: Earned value for a task is simply the percent complete time its original budget. Stated differently, EV is the percent of the original budget that has been earned by actual work completed. [The older acronym for this value was BCWP—budgeted cost of the...
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...Friendship What Is Important to Managers: Sense of Accomplishment, equality, and Self-Respect --According to Rokeach, Terminal_____ values refer to desirable end-states of existence. Instrumental Values: Ambitious, Broadminded, Capable, Cheerful, Clean, Honest, Responsible ------------------------------------------------- Hard working-broadminded, capable. What are intrinsic factors of motivation? Internal desires to perform a particular task, people do certain activities because it gives them pleasure, develops a particular skill or its morally the right thing to do. Examples: Achievement, Recognition, Work Itself, Responsibility, Advancement, Growth. What are extrinsic factors of motivation? Factors external to the individual and unrelated to the tasks they are performing. Examples include: Policy and administration, Supervision, Relationship with supervisor, Work conditions, Salary, Relationship with peers Motivational factors are intrinsic factors, like advancement, recognition, responsibility, and achievement, that are directly related to job satisfaction. The absence of motivational factors does not cause dissatisfaction; rather, a state of neutrality. Cognitive evaluation theory | A version of self-determination theory which holds...
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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 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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...Synergy, Coherence, and Consistency in Advertisements and the Vital Role They Play By: Cameron Dailey (0399141) Date: February 17, 2012 Course: ADMN 3150 The advertising industry is a difficult market to define, some call it art and some call it a science, either way it comes down to effectively communicating ideas to customers. But how does one persuade potential customers to start buying, and current customers to continue buying a product or service? The answer depends on many things, and can change quickly, especially in today’s market place. Though the world is changing faster than ever, advertising must be able to be broken down to basic parts that are necessary for an ad campaigns success. Leo Burnett believed that advertisements should reflect the world around it, by using folklore he created famous ad campaigns such as The Jolly Green Giant, Tony the Tiger, and the Marlboro Man. Where Burnett often used created characters in his work, David Ogilvy believed in making the product the hero of the commercial. Obviously there are different points of views on what a successful ad campaign should look like, but they all share a certain characteristics. This paper intends to argue that concepts of consistency, coherence, and synergy are necessary for a successful advertisement. Consistency in advertising can mean many things, consistency from one ad to the next, consistency of employee and organizational value, and so own. Everything an organization does affect...
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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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