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 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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