Essay: The importance of Teamwork in Business

ACF- 100 BE Coursework
The importance of Teamwork in Business.
The report has been respectively completed by the following students in accordance with their assigned sources:-
• Prakhar Mehrotra- Newspapers
• Ayush Behl- Webpage
• Amartya Poddar- Magazines
• Sailesh- Academic Journal
• Kanav Bajaj- Books.
Introduction
Teamwork holds a great importance in every business organization as it combines the efforts of all the team members to achieve the main objectives of the organisation. Every business entity today requires this particular skill within their operating environment. And our report through various examples of real life experiences taken down via various newspapers, academic journals, books, magazines, and also various articles published on different web pages shows how teamwork and leader ship skills added success to their stories and gradually helped them to achieve their goals/objectives in the long run.The report precisely consists the meaning of teamwork, and the organisations that require teamwork. It also throws light upon how leadership skills and effective teamwork go hand-in-hand and make a difference in a business organization. Our report also states the reason of who individually managed business prove to be a big flop in the long-run. It also discusses about how the work should be extracted from the employees and also the basis upon which the work should be assigned to respective employees.This report states that how teamwork has made a drastic change and led several companies towards success with the help of an example of a company which faced several challenges in achieving the company’s main objectives but gradually became successful with effective teamwork. In this report we will discuss about how Toyota Kirloskar motors came across the difficulties which it was facing since three long years soon started climbing the doors of success after the new MD changed his approach towards the Indian workers as the workers were all giving out excuses and were not feeing the sense of being the part of the company, and how it all got changed through healthy motivation, and teamwork.   Several examples from Forbes have also been taken which show the methods that the successful leaders adapted in their working environment and also the impact that the methods caused. Our report also educates us about the steps of building healthy relationship and mutual bonds between the employees as teamwork is not possible when there exits an absence of trust among each other.
Importance of Teamwork
“Nothing succeeds like teamwork” has been said by Dr Kushagra Katariya is the CEO of Artemis Health Sciences.
The essence of business lies in making money through trade and commerce and it participation of a lot of individuals. In order to reach out to a large group’s sensibilities, a business, no matter what size it might be, requires everyone to work in synchronization with each other. This synchronization is described very aptly by the French as ‘esprit de corps’. In a lay man’s words, this means that unity is required for flourishing and this unity is synonymous with ‘team work’.
The hierarchal distribution of teams always tends to cause conflict because certain people feel prejudiced or subjugated. When this unequal distribution is removed, people tend to perform to their best potentialities and the results of team work in a business are extremely positive.
Team work also initiates a sense of camaraderie where team members become our families and responsibilities. We feel the need to meet their expectations before ours and that pushes us to outperform ourselves. Moreover, when a person approaches this set of people who treat each other like family, he feels a sense of comfort amongst people who are contended and happy amongst each other. This fosters a good buyer-seller relationship.
Thus, team work is what makes a business flourish, the agreeability of the team mates and the collective vision they call their point of view helps them to stick to the objectives. This very same vision helps them have a focused goal that they can contribute to with their own inputs, in order to make maximum monetary profit which is their aim at the end of the day. As published on the website ‘happy-manager’.
Today, teamwork is an essence of every successful Business. In this dynamic business environment any organization cannot survive on individual efforts in the long-run.” It is very vital to involve all the staff members and bring out the best out them in this changing environment” as published in the article at Succesories.
Teamwork can be defined as a process of working together collaboratively with a group of people in order to achieve a common goal .It is a very crucial part of any successful business, as it helps to bind the efforts of all the employees.
Sometimes, people try to achieve goals by themselves because of their over confidence on themselves and self esteem issues .But one is really a small in number to achieve a goal, which makes the work more complex and therefore difficult to achieve.
And, therefore to achieve any task through teamwork each employee should be assigned the work which he is capable of doing in other words; a place where he/she can add their most .It is very important to know the talents and potential of your team members and accordingly should be assigned the work. Evaluation of each employee’s skills, discipline, strengths, experience, and potential should be done before assigning any task. In today’s dynamic environment the type of challenge determines the type of team required. A new challenge requires a creative team, and an Everest – sized challenge requires an experienced team respectively.
Also the experienced officials should keep an eye on the employees and should always provide direction, support, or any further guidance which employees require. In a team one should only be appointed as leader when he/she potentially proves to have all the skills required for example; How to extract the work out of their employees? How to manage the changes of dynamic environment?
The success of every business organization lies on the skills, and determination of all the team members. And one should always motivate its team members to achieve its objectives; it is the very essence of a successful organization, as published in the book”
The human history has shown us that it takes a special person with excellent leadership skills and competencies to build the most successful companies. Let us consider an example based in Forbes, Jack Welch (CEO and Chairman of General Electronics, 1981-2001) was a person who strongly believed in Change since the Business Environment is Dynamic in nature, and also in knowing one’s work and the potential of rest of the team properly. And also his business strategies were based on the three things that he believed in. Another example is of Steve Kenfer who was the CEO and Founder of “Trip Advisor” which has gradually become one of the World’s biggest Travel Website these days. Steve Kenfer strongly believed that his leadership qualities and motivational skills helped his company to touch the sky. He believes that every leader should have skills to understand their employees and their hidden skill so that they can use the skill in a rightful way for the growth of the company as published in a article in” Forbes Magazine”.
The further example signifies the importance of teamwork and how it helps to achieve the goals of a Business organization.
The importance of teamwork can be seen in any successful organization, Toyota Kirloskar Motor India which was facing failure in India since 18 months is one of the best examples to showcase the significance of teamwork in any organization. Ishii, when became the Managing Director of TKM he tried to figure out the strengths and weakness within the company and very soon realized that the Indian workers had lost their confidence in the company and basically had no idea of company’s future goals. And very soon the workers went on strike; the essence of teamwork was somewhere diminished.
Soon after when the lockout was lifted from within the company Ishii started involving all the Indian Leaders in order to get different perspectives regarding the Indian market. Effective communication among the company officials, involving HR mangers and leaders of every department inside the company made the intra relations better.
And very soon they got an opportunity to present their mid-term and long-term strategies in front of Toyota Motor Corporation, Japan, in July 2014. And the efforts of the leaders could be very easily seen which served as a proof of increased sense of belonging and ownership.
The company was operating quite well in India. The communication gap was therefore bridged which gradually made the discussions and plans on supply and demand better.
Teamwork therefore proved to be the most important factor for the company’s success and made concern and empathy for the team workers and the future challenges, as posted by Murali Gopalan in an article published by THE BUSINESS LINE.
Business expects far more from employees than technical and generic skills. Teamwork in today’s business operating environment is a multi-dimensional concept which has gained recent popularity and some success in business. Team working helps in increasing productivity and effectiveness of the employees and the organization. The team culture plays an important role in today’s business because it helps in developing individual skills to teamwork. It also helps in destroying all the traditional problems which occur in a business like the communication and coordination.
Teamwork tools are now applied in few universities to enhance the practical task of empowerment and leadership. Teamwork holds a great importance in today’s business environment. The following are the tips of how team building should be done in the business organization:-
1) Form teams to tackle the real issues in the business
2) Hold departmental meetings to review the project
3) Build up fun and share experience in the business
4) Celebrate the success in group.
The major element helps in following teamwork is ‘Trust’ and the members are not individually responsible for the successes or failures of their team in the organization. Teams often arises when all the employees are willing to work together to accomplish a specific goal. Teamwork at work place does not only benefits your workers but also significantly affects in your business
Teamwork enables you to complete the task faster and more efficiently than tackling project individually. It also reduces the pressure on workers which allows him to be through in his roles and specialization.
Teamwork is also very important in an organization because it gives employees with a opportunity to socialize with each other which helps in improving the relation among each other.
CONCLUSION
The projects tell us the importance of teamwork in a business. We come to know that no company can be a success in the market if they lack team spirit. Companies should make their employees believe that teamwork is the heart of the business. Success is only possible when employees start working from ‘I’ to ‘WE’.
Working in a team benefits the employees as well as the business entity. Employees are benefitted as they will have a healthy competition amongst themselves if they work in a group. Teamwork also improves the relationship of employees with each other as they always work together and know more about each other. If the efficiency of the employees increases it will automatically benefit the business. Toyota Kirloskar Motor India is an example of how company can be a success if they follow teamwork.
Without a good manager teamwork cannot be achieved. It is the manager’s role to guide his employees and encourage them to do their task better and together. Only with a good leader the team can be a success. The manager should motivate the team so that group goals are preference rather than individual goals. Working in a team they can achieve the group goals as well as their individual goals.
If a company does not work in a team then there are chances of its failure. Like the SWISSAIR which declined in 2002 due to mismanagement and lack of teamwork in the organization. These kinds of stories tell us the importance of team work and proper management in the company.
We can say that the company is an effective team only if the company has a definite goal, competitive staff, good leadership, and good working conditions.
“Coming together is a beginning. Keeping together is progress. Working together is success “by Henry Ford.