“Talent wins games, but teamwork and intelligence win championships.”
Michael Jordan
Attaining your business goals is in direct correlation with the success of your teams. This means team building is one of the most important determinants of efficiency and consequently profitability.
The primary areas of effective team building that most affect team commitment and success are as follows:
Core Values
Your company mission statement is a description of the core values of your business. It is a summary of the beliefs your organization communicates with regard to customer interaction, employee satisfaction, and community responsibility.
Business Strengths
No matter what growth strategy you choose, your company’s infrastructure must be able to support its successful execution. Devising the strategy and implementing it are two very different things. The solution lies in focusing on your company’s core business strengths.
Your core business strengths are defined as the products, services, customers, distribution channels and geographic areas that yield the largest return on your investment (ROI). It is critical that systems be put in place to measure the overall performance of each segment of your core business. Peter Drucker, the world renowned business consultant, said: “you cannot grow what you cannot measure.”
Understanding where your products rank in the marketplace helps you better determine how to improve your standing among consumers and increase your profitability. A comprehensive analysis of your core business strengths should be an ongoing objective of your company.
Marketing
Marketing involves understanding consumer buying trends, creating advertising, being able to anticipate product distribution needs, getting customer input on product changes and developing strategic partnerships.
Input from your employees, customers, senior management and external stakeholders such as vendors and strategic partners is essential. Be sure to include both loyal and not- so-loyal customers in your research.
Growth
If your business is not moving forward, it is falling behind. Growth must be planned based on historical data and future projections. Prioritizing decisions helps optimize the use of assets and develop new ones.
Strategic growth requires maixmizng resources such as Accounting, Operations and Human Resources (HR) to fuel, maintain and measure your growth initiatives.
Goals must be measurable, achievable, flexible and in alignment with the organization’s core values. All projects must be prioritized in a hierarchy that makes sense regarding their urgency.
Change Management
The objective of change management is to create dynamic and vibrant teams that are prepared to meet new challenges and seize opportunities as they present themselves. It requires creating processes and systems that deal effectively with a constantly changing global marketplace.
The probability of fulfilling your growth objectives is significantly increased when your organization has a clear and definitive growth strategy combined with a strong execution infrastructure. One without the other can be devastating.
Communication
Team members must have a clear understanding of the priority of their tasks. There should be a well-defined communication loop so people know how and when to give constructive feedback.
Collaboration
Do team members approach goal setting, process improvement and innovation collectively? It is imperative that teams work together in a spirit of cooperation to fulfill their goals and follow set rules of conduct in conflict resolution.
Support
Teams should be supported in their missions by rewarding members who take reasonable risks to improve systems and processes. Leaders need to provide the education, training, and access to the information they require to be successful.
How We Can Help You
Pacific Crest Group (PCG) provides professional services that keep your business focused on your critical objectives. We provide strategic Accounting and Human Resource (HR) services created specifically to help you meet your goals. Through exemplary customer service, clearly defined policies and procedures as well as a forward-looking perspective, we provide the outsourced solutions your business needs to grow. A PCG professional is happy to meet with you to discuss solutions for your unique requirements designed to maximize all of your business opportunities.