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4349 The World without Bankruptcy Laws

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 […]

4348 The Wirecard and Infosys Scandals are a Lesson on How NOT to Treat Whistleblowers

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 […]

4347 Why the Digital Age Demands Decision Makers to be Like Elite Marines and Zen Monks

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 […]

4346 Why Indian Firms Must Strive for Strategic Autonomy in Their Geoeconomic Strategies

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 […]

4345 Why Government Should Not Invest Public Money in Sports Stadiums Used by Professional Franchises

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 […]

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A group heading towards a common objective will perform best when it is motivated as a team. Team motivation is determined by how well the team members’ needs and requirements are met by the team.

Some tips for effective team motivation are as follows:

  • The team’s objective should well align and synchronize with the team members needs and requirements.

  • Give in written the team’s mission and ensure that all understand it (as mission is a foundation based on which the team performs).

  • For maintaining motivation, the team should be given challenges (which must be difficult but achievable) consistently.

  • Giving a team responsibility accompanied by authority can also be a good motivator for the team to perform.

  • The team should be provided with growth opportunities. The team’s motivation level is high when the team members feel that they are being promoted, their skills and competencies are being enhanced, and they are learning new things consistently.

  • Effective and true leaders can develop environment for the team to motivate itself. They provide spur for self- actualization behaviours of team members.

  • Devote quality/productive time to your team. Have an optimistic and good relation with your team members. This will make you more acquainted with them and you can get knowledge of how well they are performing their job. Welcome their views and ideas as they may be fruitful and it will also boost their morale.

  • Motivation is all about empowerment. The skills and competencies of the team members should be fully utilized. Empowering the team members makes them accountable for their own actions.

  • Provide feedback to the team consistently. Become their mentor. Give the team recognition for good and outstanding performance. Give the team a constructive and not negative feedback.

  • Discover and offset the factors which discourage team spirit such as too many conflicts, lethargy, team members’ escape from responsibilities, lack of job satisfaction, etc.

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