Corporate and Individual Strategies to Respond to the Protectionism Worldwide
The Surging Protectionist Sentiment There is a surge of protectionism and populism worldwide. From President Trump’s Protectionist Rhetoric and his America First and Make America Great Again slogans to the rise of Anti Immigrant sentiment in Brexit Britain and the latent hyper nationalism in other countries around the world, there is a backlash against globalization. […]
Person Dependence in Organizations and Steps to Manage or Reduce the Same
Some Real World Examples of Person Dependence and its Perils A common problem across organizations in the contemporary corporate world is about person dependence and the ways and means to manage person dependence. The term person dependence refers to the phenomenon wherein the organizations are overly dependent on individuals for their success and even for […]
Knowledge Management Strategy
Introduction Knowledge management is the recognition, optimization and effective handling of intellectual assets to build value, enhance productivity, and achieve and maintain competitive advantage. This comprises of the summarization, combination, dissemination and utilization of knowledge in an organization. Thus the management of knowledge comprises of various tasks and functions. The generation of a knowledge management […]
Types of Hedge Funds
Hedge funds are simply funds with high leverage and no regulation. They have come into existence in the past couple of decades or so. However, a lot of fund managers have used different strategies and different asset classes. The result is a proliferation of the types of hedge funds. The modern investor therefore has a […]
China’s Wealth Gap Problem
Traditionally China has been one of the red states. This means that China traditionally adopted the policy of communism. Hence, one would expect the income and wealth disparity in China to be limited. However, surprisingly, that is not the case. China has one of the biggest wealth disparities in the world. For instance, the top […]
Teams are increasingly being considered as a unit of work world over. Organisations seek harmony, coordination and oneness in teams for growth and prosperity.
More emphasis is laid on group and team dynamics, still however career development issues concerning the teams are neglected somewhere, which is truer for organisations in the developing world and multi national corporations.
Individuals are being replaced at a rapid pace and there are both positive and negative facets of the same. There has been sufficient amount of discussion surrounding individual issues like the selection procedures, designing the training programs, the appraisal systems and rewards and recognition.
All these fall within the ambit of individual career development issues. However, as mentioned earlier, not much attention has been paid to career development issues pertaining to teams! This write up is dedicated to the same.
Teams play a very important role in the individual and career development of the team members. If team dynamics are understood and exploited properly, individual and collective development will happen exponentially.
For example one simple way of development of team members would be through benchmarking with team members who exhibit better competencies and skills.
Teams can use these member skills and competencies to develop the same in other members who lag behind in certain areas where others excel.
Taking the above mentioned example further and assuming a team of people from across various departments. Different people from different departments make up for an interesting mix in terms of skills, competencies and attitude.
People from quality, for example, can teach or introduce various quality concepts to those who are naive to the latter e.g. the marketing department.
People from operations would be reasonably good in quality concepts and HR may or not be up to the mark depending upon the kind of organisation.
Marketing people can similarly share their competencies in marketing communication which may be a weak link in the productions department.
This exchange of skills and competencies can lead to better staffing flexibility. In yet another way, team members may help in identification of training needs for members.
Even if team members do not make a conscious effort on acquiring of new skills, a simple rotation of tasks or assignments among the team members will facilitate the skills exchange.
The need analysis program can lead to a developmental plan for each member of the team. In highly empowered teams the execution of the developmental plan also lies on the team members.
In Cadillac, for example, each plant and work unit has a training needs analysis program in place that reminds the members of the KSA’s required to achieve targets or goals.
Teams can thus be geared towards acting as a very powerful tool for individual career development, where team members can enhance their own work skills and those of their peers.
One strong reason why teams fail is an inappropriate staff/member selection for the team, which creates barriers for skills transfer. Once this is overcome development issues within a team is taken care of.
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Current Employment Trends and Their Implications for Business, Society, and Individuals
February 12, 2025
