Building Effective Teams

Building Effective Teams

Introduction

Building an effective team can be a complicated task. In this paper, I will detail how I will create a new group, focused on creating a new business model for an already established company. I will create this team by taking critical employees from the finance, operations, and information technology departments.  These three departments can offer varying expertise and knowledge that I feel will work best to create a successful team.

Conclusion

I have chosen three departments from which to pull personnel for the newly formed team:

Finance:   Finance personnel is essential to any business plan. The finance department is the measure of the success or failure of a company. Having finance involved in the planning of a new business model and ways to grow the business is key, as the finance department has the tools and expertise to measure the potential profit/loss outcomes of business decisions. I would like at least two employees from the finance department in the new group. One employee will be a higher-level finance department member – they will have the knowledge of the “big picture” in regards to profit and loss. The other employee will be more of a day to day bookkeeping member of the finance department. That employee will have the detailed, day to day functional knowledge of how the finance world works and can often trouble shoot operational finance and accounting issues that may arise.

Financial metrics have long been the standard for assessing a firm’s performance. The BSC supports the role of finance in establishing and monitoring specific and measurable financial strategic goals on a coordinated, integrated basis, thus enabling the firm to operate efficiently and effectively. (Kono, P., et al. October 29, 2017)

Operations:  The Operations Department manages the workload of RPZ Marketing. Having a representative from the Operations Department will enable the team to see the “Big Picture” and make sure all the moving parts of their business model can be completed. One staff member from Operations will be needed in the new team. The staff member that joins the team will need to have several years of experience in Operations and an extensive knowledge of this company’s business practices.

Business Operations and the relationship to your business plan: your operations include the physical location, facilities, equipment, inventory, warehousing, management information systems, people – everything that is required to operate your business.

Understanding and effectively managing the operations side of your organization is key to running a successful business. (More for Small Business, Business Operations. n.d.)

Information Technology:  A company cannot run without successful IT. As a Marketing Firm that now specializes in Social Media Marketing, our Information Technology needs to be top notch. From our own internal networks, to being able to deliver technologically advanced products – the Information Technology group must be involved. The new team will need at least four very strong, highly capable persons from the Information Technology Department.

A strong IT strategy provides a blueprint of how technology supports and shapes the organization’s overall business strategy. Its strategic goals should mirror business projects (aka business alignment) and take into account the needs of key stakeholders including employees, customers and business partners. (What is IT strategy (information technology strategy)? – Definition from WhatIs.com. (n.d.).

This newly formed teams first task will be to discuss any concerns their departments may have. I understand that these departments have not been encouraged to work together in the past, and I would like to start with a clean slate to make sure that any previous issues are resolved. I will use my training in Human Resources to listen and respect all the opinions and concerns that are raised and we will work as a team to resolve all issues quickly.

Next, we will write out our goals as a team. What are the end results that Senior Management needing from this team, and when do they need them? We know that we need a proposal for a new business model, and we need to find ways to grow our business over the next year. All ideas for the new business proposal and the strategies for continuing to grow the business will be discussed amongst the entire team so we can ensure that we have each groups opinion and perspective. By continually seeking and listening to each other, I feel that the expertise that each team member brings to the team will enable the team to be successful and able to deliver the business proposal and plan to Senior Management in the time that it is required.

Reference

Pedro M. Kono, DBA and Barry Barnes, PhD, Groves, P. K., Smith, P. D., Chasteen, P. L., Dillard Tinsley, PhD and Joseph G. Ormsby, PhD, Ball, P. R., . . . Dongshin Kim, PhD and Abraham Park, PhD. (2017, October 29). The Role of Finance in the Strategic-Planning and Decision-Making Process. Retrieved December 31, 2017, from https://gbr.pepperdine.edu/2010/08/the-role-of-finance-in-the-strategic-planning-and-decision-making-process/ Heathfield, S. (October, 27, 2016). Sample Human Resources Director Job Description. Retrieved from https://www.thebalance.com/sample-human-resources-director-job-description-1918533

Business Operations. (n.d.). Retrieved December 31, 2017, from http://www.more-for-small-business.com/business-operations.html

What is IT strategy (information technology strategy)? – Definition from WhatIs.com. (n.d.). Retrieved December 31, 2017, from http://searchcio.techtarget.com/definition/IT-strategy-information-technology-strategy