MGMT 4000 Study Guide - Midterm Guide: Strategic Management, Coopetition, Test Market
19 Nov 2020
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Strategic Management Study Notes
- Projects are constrained by time, cost and scope
Project Management Process
Teamwork Development Stages/Dysfunctions of a Team
Team Development and Success
1. The Forming Stage
- Define and assign tasks, establish a schedule, organizing the team’s work
- Members are focussed on working on tasks independently, not with fellow
members yet
2. The Storming Stage
- Members need clarity about activities and goals, guidance about how they will
work independently and collectively
- Can involve brainstorming ideas; initiates confronting ideas and perspectives
3. The Norming Stage
- Now that the team has clarified purpose and strategy for achieving goals, it
becomes a period focused on developing shared values about collaboration
- When to use certain modes of communication, what to do when conflicts arise
4. The Performing Stage
- Fewer time-consuming distractions based on interpersonal/group dynamics
- Motivation is high; members have confidence in their ability to attain goals
5. The Adjourning Stage
- Formally marks the end of the project; celebration
Team Success
- The way a team member functions as a group is as important to the team’s
success as the quality of what it produces
1. Trust
2. Effective communication
3. Common goal
4. Defined team roles and responsibilities
5. Group cohesion
External Analysis Tools
Internal Analysis Tools
