Curious Observation – First Step in Decision Making Process
February 12, 2025
What is a Security ? Assets with some financial value are called securities. Characteristics of Securities Securities are tradable and represent a financial value. Securities are fungible. Classification of Securities Debt Securities: Tradable assets which have clearly defined terms and conditions are called debt securities. Financial instruments sold and purchased between parties with clearly mentioned […]
Many students often find tax policy confusing. This is probably because it uses complex terms. The tax base is one such term that is often used in tax literature. The meaning of this term is often not completely understood by tax students. This creates further confusion. In this article, we will clarify the meaning of […]
How Modern Decision Makers Have to Confront Present Shock and Information Overload We live in times when Information Overload is getting the better of cognitive abilities to absorb and process the needed data and information to make informed decisions. In addition, the Digital Age has also engendered the Present Shock of Virality and Instant Gratification […]
Why Do 80% of All Projects Fail to Deliver on Time and What can be done About Them Research shows that nearly 80% of the projects fail to maintain timely completion of deliverables at each stage of the project as well as fail to finish on time. Project Managers often complain that the Triple Constraint […]
Living for the Next Quarter Of late, many publicly listed companies have been living “quarter to quarter” or the practice of setting targets, tracking them for progress, and closing out sales and revenue generating items based on the next quarter which is a short term imperative rather than planning for the longer term. This has […]
A team comprises of two or more than two people grouped to achieve a common objective or a goal. On the other hand, High-Performance Teams are objectively more focused in approach and better than the usual work teams. The members of a High-Performance Teamwork towards the achievement of synergies in business outcomes and attainment of measurable results by aligning all the resources.
High Performing Teams are an extension of the regular teams having a higher sense of commitment towards the objectives or mutual purpose which defines the existence of a group. In a High-Performance Team, each member of the team plays the role of a partner in achieving outstanding and measurable outcomes.
High Performance Teams serve more significant benefits than the usual teams, as the focus is on mutual accountabilities, role expectations are clearly defined and the members can share ideas creatively. Some of the crucial qualities of a high-performance team which differentiates them from a regular team are:
In case of Average teams, the scope of the job for each team member is narrowly defined and importance is given to specialised skills or competencies. But, the members of the High-Performance Teams usually have multiple and complementary skills with a focus on broader objectives or goals which affect the organisational growth and profitability.
The members of a High Performing Team play the act as business partners and they enjoy a higher degree of flexibility to achieve the work goals.
The entire planning and coordination are done by the team members collectively instead of being undertaken by a leader exclusively. But in case of average teams, the responsibility of planning and coordination lies solely with the leader and the team members act as per the instructions and guidelines of the leader. The leader establishes the vision and the strategic road-map for the team members in case of average teams.
Building High-Performance Teams with all the qualities mentioned above is not an easy job. The following steps are required to be followed for establishing a high-performance work culture and developing high-performance teams:
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