RSM100Y1 Chapter Notes - Chapter 9: Virtual Team, Problem Solving, Brainpower
Document Summary
Empowerment: giving employees shared authority, responsibility, and decision-making with their managers. Brainpower of everyone to find better ways of achieving goals. Empower employees by sharing company information and decision-making authority and rewarding them for performance. Can understand organization"s strategic thinking, how they fit into overall plan. Give authority to carry out vision and competitive strategy. Motivated to work because they share in financial success. If majority of retirement funds in stock, risk if stock value falls dramatically b. Own stock if choose to use option to purchase stock. Right to buy specified amount at set price. More motivation if offered to broader range of employees. Team: group of people with certain skills who share common purpose, approach, performance goals. Combining all talents, ideas achieves more than working alone. No problem solving without knowing what leader wants. Work team: relatively permanent, complementary skills, day-to-day work. Problem-solving team: temporary, disband after solving specific problem.
