Managing Finance – Setting and Acheiving Budgets

             "We believe that teams – real teams, not just groups that management calls "teams" – should be the basic unit of performance for most organizations, regardless of size". (Katzenbach, J R & Smith, D K; the Wisdom of Teams, Harvard Business School Press, Boston.)
             (a) Critically analyse this statement and discuss whether you agree or disagree with it. Justify you answer.
             Katzenbach, J R & Smith, D K, go on to say, "Teams are more productive than groups that have no clear performance objectives because their members are committed to deliver tangible performance results. Teams and performance are an unbeatable combination" . Nearly all of us at some stage have been members of a group that we've labelled a team, whether it was a sports team, debate team, a committee, a task force at work, or an advocacy group in the community. Essentially, the label of team is given to a group of people who interact well. Nevertheless, it is important to use a more precise definition of a team for two reasons:
             · We can discern the features a team possesses that distinguish it from a group.
             · We can identify the features of a high performance team.
             Groups are "an expression of the needs and aspirations of the people who comprise them" (Walton and Hackman). Teams, on the other hand are special kinds of group, with (3) additional characteristics. (1), teams are typically formed by management directive. (2), team members share responsibility for the specific outcomes and operations. (3), teams typically exist in an empowering work context. That is, teams are found in organizations that "emphasize the mutuality of interests between employers and employees where all members, not just managers, have means to influence work related decisions. Where there is open information and two way communication about organizational policies and practices; and hierarchical differences are minimized in ways ...

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Managing Finance – Setting and Acheiving Budgets. (1969, December 31). In MegaEssays.com. Retrieved 20:53, January 11, 2026, from https://www.megaessays.com/viewpaper/100717.html