The Great American Pyramid Schemes
Donald Trump has promised to make America great again. He may have a bigger task on his hand than he previously thought. The American social life is plagued by many erroneous policies of the past government. It will take a lot of hard work to get rid of these policies. This is because these policies […]
Reinsurance Vs Securitization
It is common for insurance companies to not hold the entire risk that they underwrite on their own portfolios. Instead, insurance companies try to find ways and means to offload some of this risk to other entities. This is common with all types of insurance. However, it becomes more pronounced with catastrophe-related insurance. This is […]
What is Learned Helplessness and How it Harms the Victims of Workplace Discrimination
What is Learned Helplessness and How it Prevents Women from Speaking Out It is a known fact that most organizations have some forms of covert and overt sexism and harassment as well as discrimination along racial, ethnic, and sexual lines. Indeed, sexual and other forms of harassment are so rampant in many organizations that most […]
External Loss Data in Operational Risk Management
In the previous article, we studied how a firm can collect internal loss data about the adverse events that take place within its boundaries. However, all operational risk managers know that internal events are not the only ones that can have a negative outcome. Over the years, companies have realized that even if they do […]
Edgar Schein Model of Organization Culture
The term “Organization culture” refers to the values and beliefs of an organization. The principles, ideologies as well as policies followed by an organization form its culture. It is the culture of the workplace which decides the way individuals interact with each other and behave with people outside the company. The employees must respect their […]
The global virtual teams are characterized by team members located in different geographies and time zones with information and communication technology tools as the only interface for them to interact. The virtual teams offer unique challenges. In order to overcome these challenges and unleash the creativity and potential of all the team members, the leader of the virtual team have to adopt a blend of the three leadership styles - transactional, transformational and situational.
Research studies indicate that the leadership style has greater effects on the productivity of virtual project teams as compared to that on the traditional collocated teams. This finding makes it essential for all the virtual team leaders or managers to revisit their leadership approach for an effective virtual team.
A global virtual team leader should have high levels of techno-socio-emotional capabilities and should be able to strike a perfect balance between the following three leadership styles and create a distinctive approach to manage multi-cultural, multi-lingo, multi-geographies and multi-time zone member team.
Leader should also be sensitive to the different cultures. This should reflect in this approach towards managing the members’ motivation to work and communication styles. For example, an American worker finds pay/status as motivating while a Japanese worker attach more value to harmonious and non-ambiguous work situations.
Thus we see there is no one-size-fit-all leadership style when it comes to managing virtual teams. The virtual team leader has to adopt an approach which is a fine blend of all the above discussed styles. This discussion acts as guiding principles for effectively managing virtual teams.
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