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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 team is defined as a group where individuals with similar skill sets, knowledge, specialization and expertise come together on a common platform to perform same or related tasks. Team work encourages employees to contribute as per their capabilities to reach to a common goal i.e. accomplish tasks within desired time frame.

Individuals, rather than working alone should work in teams to ensure timely delivery of work. Employees, working in teams are found to be efficient, reliable, confident, satisfied and proactive as compared to individuals who prefer working alone. They tend to deliver quicker results as compared to employees who have to do everything on their own. An individual who is handling multiple responsibilities would never be able to deliver results on time.

Team work plays an essential role in increasing efficiency of employees eventually benefitting the organization and yielding higher profits. Team work leads to proper delegation of responsibilities as per employee’s expertise, skill sets and knowledge. Employees are supposed to do what they can best do. When employees contribute as per their experience and specialization, targets are achieved within the desired time frame and tasks are accomplished on time with minimum errors.

Individuals working in teams can interact, discuss, brainstorm ideas to reach to unique solutions and also gain from each other’s expertise. Work gets finished on time when individuals with similar knowledge work in unison. A single brain sometimes fails to think out of the box whereas few intelligent brains together can actually make a difference. If you do not have the required skills to work on a particular project, take the help of your team members and vice-a-versa.

No human being can work in isolation. We need people around to talk to. Believe me, half of the problems evaporate when employees voice their concerns and discuss with co workers and superiors.

Problems and grievances need to be addressed on an immediate basis. Greet your fellow workers with a smile. Wish them in the morning and you would be surprised to see that you would feel fresh and happy the whole day.

Employees do not feel like working if they have no friends at the workplace. Work becomes a mere source of burden for them and eventually their efficiency decreases. Let individuals have friends, open up, discuss their problems and also find a solution. Employees, this way also come closer, avoid getting into useless fights and eventually lead to a healthy work culture. It also reduces the stress level at the workplace, thus employees are able to concentrate on work rather than indulging in nasty politics.

Encourage morning meetings at workplace where employees can come together on a common platform along with their team managers to plan the entire day. It is essential for the manager as well as team members to know what the other member is upto.

Duplication of work is absolutely pointless. Make sure your team member is not working on the same project which you have already started working on. Ensure everyone is working on different assignments.

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