Empowering Associates Through Teamwork and Communications

1. Empowering Associates Through Teamwork and Communications 2010270043 Eun Jin KIM 2010270090 Tae Hoon PARK

2. Index • Empowerment • Teams • Communication

3. Organizations & Empowerment Organizations? Empowerment? A consciously coordinated social unit, composed of two or more people, that functions on a relatively continuous basis to achieve a common goal or set of goals. Giving employees authority and responsibility to make decisions about their work.

4. Why organizations empowering employees Tapping the brainpower of all workers to find improved ways of doing their jobs, better serving customers, and achieving organizational goals.

5. Methods of empowering employees Sharing Information and Decision-Making Authority • To keep them informed about the company performance, particularly financial performance • To give them broad authority to make workplace decisions that implement a firm’s vision and its competitive strategy Employees can understand how their work contributes to company profits

6. Methods of empowering employees Linking Rewards to Company Performance Employee stock ownership plans(ESOPs) • It benefits employees by giving them ownership stakes in their companies, • leading to potential profits as the value of their firm increases. • Employees are motivated to work harder and smarter Stock Options • It gives employees a chance to own the stock themselves if they exercise • their options by completing the stock purchase.

7. Methods of empowering employees Employee Stock Ownership Plans(ESOPs) • Employees receive stock shares upon retiring or leaving the company • Employer pays for the shares of stock

8. Empowering Employees Employee Stock Ownership Plans(ESOPs) Advantage Disadvantage • If the value falls dramatically, the employee may be financially harmed. • Excessive expenses occur by company’s joint investment • Promoting employees and improving performance • Protecting from value’s falling

9. Methods of empowering employees Stock Options • The right to buy share of company’s stock • Pay a set price to exercise the option • Motivate regular employees to perform better

10. Empowering Employees Stock Options Advantage Disadvantage To promote performance by motivating employees through safety and high returns When firm distributes stock option to the minority, it can make disharmony between employees.

11. Methods of empowering employees Employee Stock Ownership Plans and Stock Options

12. Team Team Team Importance Group of people with certain skills who are committed to a common purpose, approach, and set of performance goal. Companies want to hire people who can work well with other people and pool their talents and ideas to achieve more together than they couldachieve working alone. Synergy

13. Differences between Groups and Teams • Work Group • A group that interacts primarily to share information and to make decisions to help each group member perform within his or her area of responsibility • No joint effort required • Work Team • Generates positive synergythrough coordinated effort. The individual efforts result in a performance that is greater than the sum of the individual inputs

14. Why Have Teams Become So Popular? • Great way to use employee talents • Teams are more flexible and responsive to changes in the environment • Can quickly assemble, deploy, refocus, and disband • Facilitate employee involvement • Increase employee participation in decision making • Democratize an organization and increase motivation • Note: teams are not ALWAYS effective

15. Types of Team • Problem-Solving Teams • Groups of employees from the same department who meet for a few hours each week to discuss ways of improving quality, efficiency, and the work environment • Popular method used in many organizations • Self-Managed Work Teams • Groups of 10 to 15 people who take on the responsibilities of their former supervisors – they do not have a manager • Do not work well in countries with low tolerance for ambiguity and uncertainty and a high power distance

16. Types of Team • Cross-Functional Teams • Employees from about the same hierarchical level, but from different work areas, who come together to accomplish a task that needs to utilize multiple perspectives • Very common • Task forces • Committees

17. Types of Team • Virtual Teams • Teams that use computer technology to tie together physically dispersed members in order to achieve a common goal • Characteristics • Limited socializing • The ability to overcome time and space constraints • To be effective, needs: • Trust among members • Close monitoring • To be publicized

18. Team Characteristics • Number of team member • Generally 6~7members are effective to achieve their best result • The smaller the better • Variances or differences in ability, experience, personality, or any other factor on a team. • Diversity can often lead to lower performance Average level of ability, experience, personality, or any other factor on a team

19. Stages of Team Development Orientation, Breaking the ice. Leader facilitates social interchanges Conflict, disagreement. Leader encourages participation, differences surface Establishment of order and cohesion. Leader helps clarify team roles, norm, and values Cooperation, problem sol-ving, Leader facilitates task accompli- shment Task completion. Leader brings to closure, signifies competion

20. Team Cohesiveness and Norms Disadvantage Advantage Team cohesiveness Team norms - Distract objective decision • Extent to which team members feel attracted to the team and motivated to remain part of it • increase when members interact frequently, share common attitudes and goals, and enjoy being together • decision making easily • improve performance • lower turnover • increase member’s • satisfaction Standard of conduct shared by team members that guides their behavior

21. Team Conflict Team conflict When one person or group’s needs do not match those of another, and attempts may be made to block the opposing side’s intentions or goals

22. Effectivecommunication communication Importance of effective communication Meaningful exchange of information through messages To adjust and combine activities for organization’s goal amicably

23. Effectivecommunication Process of Communication Channel Message Sender Feedback Audience

24. Forms of communication

25. External Communication and Crisis Management External Communication Meaningful exchange of information through messages transmitted between an organization and its major audiences • To keep their operations functioning • To maintain their positions in the marketplace • To build customer relationships • External Communication should create goodwill and contribute to customer satisfaction However, External Communication is threatened when companies experience a public relations crisis that threatens their reputation or goodwill

26. External Communication and Crisis Management Crisis Management • Respond quickly. • As soon as possible, top company • management should appear • in public • The management representative • must stick to the facts. • Offer to find out the answer • Acknowledge problems, explain solutions, and welcome • feedback. • The executive speaks briefly, clearly and provides • visual images.

27. References • Contemporary Business 14th Edition • Organization Behavior • Google IMG