This question contains two parts; be sure to answer both. First, name at least four of the major considerations when building a group into an effective team. Next, imagine that you are building a team of eight people who will design a new type of baby stroller with a built-in entertainment system that will allow the baby to watch videos. Explain how you would apply each of these considerations as you build your team.
What will be an ideal response?
The most essential considerations in building a group into an effective team are (1) collaboration, (2) trust, (3) performance goals and feedback, (4) motivation through mutual accountability and interdependence, (5) team composition, (6) roles, and (7) norms.
Collaboration: Help employees to share knowledge and learn from one another in order to achieve a collective outcome.
Trust: Through enhancing your credibility through past acts of integrity and follow-through on your promises, you can build trust in your team members.
Performance goals and Feedback: The manager should make sure that teams have and know their purpose, and it is expressed in measurable goals and feedback.
Motivation through mutual accountability and interdependence: The manager encourages the team to accept responsibility and fosters team member interdependence, with a goal of building trust, commitment, and mutual accountability.
Team composition: The manager should ensure a good "fit" for all the members of the team. Fit enhances effectiveness, and misfit impedes it.
Roles: The manager should facilitate other team members in determining what their roles in the group will be. Members develop their roles based on the expectations of the team, of the organization, and of themselves.
Norms: Managers can stimulate cohesiveness by enforcing norms and/or stating them outright.
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What is the drawback of utilizing category captains?
A. Retailers take advantage of the information and misuse it. B. Vendor category captains are not in a good position when compared to retailers to manage a category. C. Retailers tend to ignore recommendations of the category captain. D. The vendor category captain could take advantage of their position and maximize their own sales. E. Retailers can take advantage of their position and minimize competing brands.
According to the text, why is the accounts receivable turnover ratio widely used in analyzing revenue-related fraud?
a. Significant amounts of fictitious revenues and receivables will almost always affect this ratio except in rare cases. b. Adding fictitious receivables will generally decrease the number of days it takes to collect receivables. c. If the ratio generally exceeds 1, recording fictitious sales will significantly increase the ratio, making it easy to spot fraud. d. Since the ratio should ideally equal to 1, any deviation from this number is easy to detect.
In theory, all three valuation models, when correctly implemented with internally consistent assumptions, will produce the same estimates of value. However, in practice, which of the following errors can result in different value estimates?
a. incomplete or inconsistent earnings and cash flow forecasts. b. inconsistent estimates of weighted average costs of capital. c. incorrect continuing value computations. d. All of these errors result in different value estimates.
What conclusions can you draw from the cross-cultural model of leadership and the empirical evidence about leadership and leadership theories presented in Chapter 7?
What will be an ideal response?