Why the Digital Age Demands Decision Makers to be Like Elite Marines and Zen Monks
February 7, 2025
Bankruptcy is one of the natural states which a company may find itself in. Entrepreneurship is primarily about taking risks. When companies take risks, some of them succeed, whereas others fail. Hence failure is a natural part of the business. However, many critics of bankruptcy laws believe that there isn’t a need for an elaborate […]
What is the Wirecard Scandal all about and Why it is a Wakeup Call for Whistleblowers Anyone who has been following financial and business news over the last couple of years would have heard about Wirecard, the embattled German payments firm that had to file for bankruptcy after serious and humungous frauds were uncovered leading […]
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 […]
Geopolitics, Economics, and Geoeconomics In the evolving global trading and economic system, firms and corporates are impacted as much by the economic policies of nations as they are by the geopolitical and foreign policies. In other words, any global firm wishing to do business in the international sphere has to be cognizant of both the […]
In the previous article, we have already come across some of the reasons why the government should not encourage funding of stadiums that are to be used by private franchises. We have already seen that the entire mechanism of government funding ends up being a regressive tax on the citizens of a particular city who […]
A major characteristic of effective teams is clear expectations about the roles played by each team member. In such a team, action is taken and clear assignments are made. These roles are duly accepted as well as carried out. Work needs to be distributed fairly among team members, as per each person’s skill and capability.
The leader needs to have the ability to give clear assignments in each work area.
Each team member needs to understand their leader’s expectations regarding required work methods as well as procedures. This is with regards to each job or project.
It is vital to understand the due dates for the completion of projects. Determine when the dates have slipped and which completion dates are final and nonnegotiable. This is because each task is connected to another in a team. A delay in one task anywhere leads to a delay in the complete project. This way no organization will be able to meet its deadlines leading to huge losses for the company.
Each team member’s role is to be clearly understood when they are assigned to a given job or responsibility. This is very important else too much time will be spent due to wrong communications reaching team members.
Understand the leader’s expectations while dealing with all kinds of supplier problems. Similarly the customer complaints or requests also need to be handled by each team member as per the organization’s policies. After all, effective relationships have to be built with other work groups in order to achieve the full potential of the team.
Each person as well as each team will be loaded with a huge amount of work. It is important for each team member to understanding which jobs take priority at that particular moment. Besides, changes in work priorities also take place due to changing circumstances. It is important to be able to clearly differentiate between hot jobs and other jobs.
Understand what the leader expects in the way of desired outcomes. At this point in time, open communication is vital. Understand what it means to do a good job as per the leader’s expectations. Then list down the degree of effort that is expected to be put into a job. At this point in time, it is important to avoid overworking on low-priority jobs, as that will not help in realizing the company’s objectives.
Each team always has limited resources. The aim is to achieve the maximum with the minimum resources. Understand what resources have been allocated to perform a job. These resources may include things such as facilities, support staff, equipment, software, as well as budget. Also understand how much control the team has over resource decisions.
Once the leader is able to clarify each work area, he will be able to smoothen out the way for each of their team members. This way it will be easier for the team to achieve its objectives by making use of allocated time.
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