1. WELCOM E! MT-499 Unit 8 Seminar Management Review

2. Contents 2 Management Plan/Summary of the Business Plan Teams in the Business Environment Stages of Group Dynamics What Does It Mean to Lead? Unit 8 Assignment Requirements

3. Management Summary of the Business Plan 3 Ownership Structure Legal Structure – can be as short as one sentence Internal Management Team Provides main business management categories relevant to a business, identifies who has responsibility for each category, and profiles the required skills. External Management Resources (Professional Services) Identifies external professional advisors your business will use, such as accountants, bankers, lawyers, IT consultants, business consultants, and/or business coaches. About.com (2010). Writing the business plan: Section 6. Retrieved from http://sbinfocanada.about.com/cs/businessplans/a/bizplanman age.htm

4. Management Summary of the Business Plan 4 Advisory Board Could be as little as one or two persons with certain expertise you will want to be able to go to for help with certain types of management decisions If starting a business and you don’t have this, include the section anyway to be added to later Human Resources Number of Resources Employees, Contracted Employees, and/or Freelancers Full or Part Time Skills Employees will need Salaries & Benefits Total Labor Costs About.com (2010). Writing the business plan: Section 6. Retrieved from http://sbinfocanada.about.com/cs/businessplans/a/bizplanmanage.htm

5. Teams in the Business Environment 5 Types of Business teams  Work Teams (instead of one big group)  Quality Teams (designed to improve organizational quality)  Problem-Solving and/or Continuous Improvement Teams  Virtual Teams  Cross-Functional Teams  Task teams (specialized teams) Khera Communications (2010). Types of business teams to have in your business. Retrieved from http://www.morebusiness.com/running_your_business/management/ah_fourteams.brc

6. Teams in the Business Environment 6 Basic Types of Team Members Contributor Collaborator Communicator Challenger Team Roles Leader Facilitator Member Ziegler, J. G. (1998). Best practices training guide for empowered teams in the workplace. Futurics: A Journal of Futures Research, 22(3&4), 73-77.

7. Teams in the Business Environment 7 Effective Team Behaviors clear purpose, informality, active participation, effective listening, civilized disagreement, consensus decisions, open communication, clear roles and work assignments, shared leadership, strong external relations, style diversity, and self-assessment Ineffective Team Behaviors no clear purpose or mission, formal stuffy meetings, great deal of participation with little accomplishment, lack of effective communication, private instead of open disagreement, decisions tend to be made by the formal leader, no openness due to a lack of trust, confusion or disagreement about roles or work assignments, poor external relations, lack of different styles to induce idea generation, no set standards of measurements or measurements not accurately used Ziegler, J. G. (1998). Best practices training guide for empowered teams in the workplace. Futurics: A Journal of Futures Research, 22(3&4), 73-77.

8. Teams in the Business Environment (cont.) 8 Problem Teams (Potential Issues) The team doesn’t have a good charter (mission, goals/objectives, and operating guidelines). Team members don’t transition from “me” to “we” mindset. Team or team members don’t understand the mission. The team hasn’t learned or isn’t using agreed-upon tools and techniques. The team has failed to set goals and measure results. There are too many goals with unrealistic expectations. There is a lack of team leadership and accountability. Team runs out of new ideas or problems. The team mission or task is causing difficulties. The team isn’t integrated with the organization’s vision. The team is isolated from other employees. There is a lack of understanding or support from management. There is a lack of team recognition and rewards. The team becomes inactive or dormant. Ziegler, J. G. (1998). Best practices training guide for empowered teams in the workplace. Futurics: A Journal of Futures Research, 22(3&4), 73-77.

9. 9 Group Dynamics: forming, storming, norming, performing, and adjourning Forming Orientation period. Team members cautiously explore the boundaries of acceptable group behavior to include testing and questioning. Team members can experience excitement, anticipation, optimism, insecurity, and anxiety. It is not unusual for little to be accomplished during this phase. Storming This is the most difficult stage characterized by a high level of emotional response to task demands and personality differences emerging. Team members may begin to realize the task is different or more complicated than originally thought. Arguments are common as team members are defensive and resistant to collaborative efforts. As in the forming stage, little is accomplished, and the team leader should strive to move the group through this stage as quickly and painlessly as possible. Ziegler, J. G. (1998). Best practices training guide for empowered teams in the workplace. Futurics: A Journal of Futures Research, 22(3&4), 73-77.

10. Group Dynamics cont. 10 Norming This is the group cohesion stage as members begin to accept the team, the ground rules (norms), their personal roles, and the strengths and shortcomings of their fellow team members. The team attempts to achieve harmony, avoid conflicts, recognize each other’s contributions, and share personal problems. Now the team will focus their energy on the task and begins to make significant progress. Performing The team has reached a high comfort level with its relationships and expectations, and this is a period of constructive self-change, close attachment to the team, and group problem-solving. Significant progress is made, and the team leader’s task is to keep the team in this highly productive stage. Adjourning This final stage is when teams disband, usually a strong emotional time. A key activity at this point is to consolidate what this team learned so success can be replicated and possibly mistakes avoided. Ziegler, J. G. (1998). Best practices training guide for empowered teams in the workplace. Futurics: A Journal of Futures Research, 22(3&4), 73-77.

11. Unit 8 Assignment 11 In a 4-6 page paper, describe the following items: Describe the management team in your business (include advisors, consultants, accountants, etc. – as necessary). Describe the team concept, group dynamics, and the strengths and weaknesses of business teams. Describe management philosophy concerning communication, and organizational culture. Discuss what Leadership actions you would take to adapt your business should the following happen in the first three years of operations: Your manufacturer has a labor strike that may last for 6 months. Three more competitors emerge who are now in direct competition with your company in product quality and price. You have had to lay off half your employees and the rest are disheartened as a result. (You must address all three areas)

12. What Does It Mean to Lead? 12 What is the difference between management and leadership? What is most important – people or production? What is your favorite leadership style? What are some of the key attributes of a strong leader? Personal Examples of your favorite leader(either from your own professional or personal experience). Examples from history and in today’s business world. Should leadership be one-size-fits-all or situational?

13. 13 Questions?