Critical Success Factors for Virtual Teams
February 12, 2025
The core of the equity theory is the principle of balance or equity. As per this motivation theory, an individual’s motivation level is correlated to his perception of equity, fairness and justice practiced by the management. Higher is individual’s perception of fairness, greater is the motivation level and vice versa. While evaluating fairness, employee compares […]
Technology is the common denominator which generally creates a huge impact on almost all industries. Big data and artificial intelligence are the latest buzzwords in technology. They are impacting almost every industry. Since reinsurance is basically an industry that supports other industries, all these technological changes are impacting reinsurance as well. In this article, we […]
Credit derivatives are the most important financial innovation in the field of credit risk management. These derivative instruments have been created quite recently. They have only been traded for a couple of decades as compared to other instruments like stocks and bonds which have been around for centuries. Within this short period of time, credit […]
The art of managing an emergency situation at the workplace through effective planning and quick action refers to crisis management. An unstable condition which leads to major disturbances at the workplace must be controlled immediately for effective functioning of the organization. Crisis Management helps the employees as well as organization to cope with difficult times […]
What Makes Human Beings Different from Animals ? Answer – It is the way they carry themselves in the society. Here comes the importance of manners and etiquette. It is essential for an individual to behave in a responsible manner acceptable to the society. People around us must not feel embarrassed by our behaviour.One should […]
The early phase of development of a virtual team is crucial for its success. Just like the foundation defines the strength of the building, the steps involved in establishing a virtual team goes a long way in contributing to its successful functioning in later stages. The two basic questions give skeleton to this phase - ‘what does the team stands for’ and ‘how will the team achieve its goal’. This article aims to evaluate this in greater details and provide practical insights to the team leaders who have been given the task to set up a virtual team.
So we start with first finding answer to the question of ‘what does the team stands for’. This involves creating a unique identity for the team with which all the team members can relate to.
The second phase involves answering the question of ‘how will the team achieve its goal’. This involves action planning to align the team on how to meet their assigned tasks effectively. A well-defined and understood action plan sets the team in motion guiding them in right direction.
Once both the phases are complete it is best to launch the virtual team with a kick-off or introductory meeting. All the team members should be involved and the use of real-time media is most suitable for this purpose. All the documents such as team directory, process flow, task interdependencies, media plan etc should be made available to all the members. This meeting should involve a brief introduction of each member and their background, an ice-breaker or team building session, explaining the context of the team in the organization and setting the ground rules with the help of above documents. Before closing the kick-off meeting, do a quick review of expectations, make sure that all members can access the project web portal and meet IT security requirements, if any, and set up the tentative schedule for next meeting.
Your email address will not be published. Required fields are marked *