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 […]
Last year Bob Stuart was given the ‘Best Team Leader’ award because his team had delivered all the milestones accurately and on-time. Along with the award, he was also a given a greater responsibility of leading a bigger and more diverse team whose members were located in 3 different countries. But this year not only that Bob’s name was nowhere found on the nomination list of best team leader award but his team could not even meet the project milestones. Do you also find yourself in a similar situation? If yes then this article has just the information you were waiting all along to pull you out of this not so desired situation.
With the growing need for shorter cycle time, enhanced innovation, lower operating costs and leveraging global talent, virtual teams comes as a solution. Virtual teams give the much desired competitive edge to the organizations in this fierce business scenario. Though many organizations adopt virtual teams but only few are able to squeeze its juice while the remaining only witness worse results. This article attempts to summarize the six underlying reasons for the failure of virtual teams.
There are specific behaviors which demonstrate disengagement of the virtual team members such as frequent absence from team calls, lesser participation in team meetings and no interest in sharing information with the other team members or in overall project progress. If you witness any of these, know for sure that it is time you need to overhaul the virtual team management approach so as to emerge successful. The disengaged or dysfunctional team could be due to any of the pitfalls discussed above. Rather than rectifying when the problems crystallize, you need to take pre-emptive measures right from the formative stage of virtual teams. Don’t be another Bob Stuart!
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