Managing Finance – Setting and Acheiving Budgets

that encourage all to feel that they are full members working together toward shared objectives" (Walton and Hackman).
             Not all teams are a like; they can differ on the type of outcomes they've been organized to achieve. Some teams, such as advisory panels, committees and employee involvement groups are assembled to provide advice and involvement to managers in the organization. Another type of team, the projects and development team, is an assembly of professionals who work on assigned or original projects. Finally, teams can be created to produce an outcome that is organized action. This type of team includes sports teams, negotiating teams, expedition teams, and surgery teams.
             Teams should be properly configured and managed for the type of organizational output that they are intended to produce.
             Overall, teams in organizations create outcomes that exceed the collective capability of individuals who work within the formal line structure of an organization.
             Jon Katzenbach and Douglas Smith provide a description of teams based upon their research on teams in a variety of organizations:
             "Strong interpersonal commitments drive a number of aspects that distinguish high-performance teams. Fuelled by interpersonal commitments, team purposes become even nobler, team performance goals are more urgent, and team approach more powerful. The notion, for example, that "if one of us fails, we all fail" pervades high-performance teams. In addition, mutual concern for each other's personal growth enables high-performance teams to develop interchangeable skills and hence greater flexibility. High-performance teams also share leadership within the team more than other teams. In addition, not significantly, high-performance teams seem to have a better-developed sense of humour and more fun".
             Teams seem to possess the characteristics of other organizational teams. However, this type of team also displays: (1) higher levels...

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Managing Finance – Setting and Acheiving Budgets. (2000, January 01). In MegaEssays.com. Retrieved 17:47, September 10, 2026, from https://www.megaessays.com/viewpaper/100717.html