Curious Observation – First Step in Decision Making Process
February 12, 2025
Whenever companies need to raise money by accessing the public markets, they have to use the services of investment banks. This is because investment bankers have a readymade network which they use to sell securities to the general public. Investment banks are the central character for a company if it needs to go public. It […]
In the previous article, we studied about how collateralized debt obligations (CDOs) are derivative instruments that have been built on top of other derivative instruments. They are complicated to understand and risky to trade. However, despite the various negative accusations against collateralized debt obligations (CDOs), they continue to be very popular. This is because they […]
Climate change is a burning issue in 2022. There is not even an iota of doubt that climate change affects almost everyone in the world in one form or another. However, some industries are impacted more than others. The reinsurance industry is among the ones which are deeply impacted. Climate change has been identified as […]
Why HRM Needs a Paradigm Shift to Deal with the Challenges of the New Normal Like other functions in corporates in the present times, the Human Resources or the HR function too faces challenges adjusting to the New Normal brought on due to the Covid Pandemic. Right from supervising employees working from home, to ensuring […]
Line organization is the most oldest and simplest method of administrative organization. According to this type of organization, the authority flows from top to bottom in a concern. The line of command is carried out from top to bottom. This is the reason for calling this organization as scalar organization which means scalar chain of […]
Group of individuals working together for a common objective form a team. Teams are generally formed to accomplish complicated and difficult tasks.
All individuals come together on a common platform and strive hard to achieve the set objective. When individuals work as a single unit towards a common predefined goal, a team is formed.
Not all teams can perform well. The performance of a team is dependent on its team members. The individuals must be handpicked very carefully to form a high performance team.
Let us go through some important points one should keep in mind while building a team:
Individuals should be from similar backgrounds and too much of a gap should be avoided. The team members must be selected keeping in mind their interests and specialization. Do not form a team just for the sake of it. An individual with a technical bent of mind will always be in a state of confusion in a team of marketing professionals.
It is very important to understand the individuals well and responsibilities must be assigned to them as per their interest and according to their qualification and specialization. An individual with excellent marketing skills never finds a desk job interesting and his best will never come out. Never force any one to be a part of any team. Individuals must participate on their own.
The team leader must extract the best out of his team members and be equal to everyone. He ought to be intelligent and a little tactful. He must motivate the individuals from time to time and be impartial. Never embarrass any of your team members.
The team leaders must be easily available to the team in case of queries and confusions.
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