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Teamwork and Business
Transcript of Teamwork and Business
by Mrs. Kline The Big Question:
How can teamwork make a business more successful? National Newspaper Article
Analysis: New Microsoft Mantra after Sinofsky - Teamwork Problem: How do we remodel Microsoft Corp as a much more integrated operation in an attempt to take on Apple Inc. and Google Inc.?
Solution: Focus on co-operation between its self-sufficient and sometimes warring units. Facts:
1. New CEO Steve Ballmer's new mantra for Microsoft Corp. is collaboration and horizontal integration.
2. Microsoft is moving towards a model where devices and software are more integrated across the entire Microsoft system.
3. Microsoft has been rechristened as a "devices and services" company.
4. The organization chart looks a lot different. It is more harmonious.
5. The management has been restructured. Many single unit heads have been replaced with two leaders sharing responsibility.
6. Top managers now get bonuses on company-wide performance, not just their own unit, leading to deeper cross-organization collaboration. Teamwork Lesson #1:
In order to create a harmonious organization executives must work together in order to allow for collaboration and horizontal integration to occur. Bibliography
Ding, Eric. "Top Workplaces: At Rivers Casino, Employees, Supervisors Go With the Flow." Chicago Tribune 13 11 2012, n. pag. Web. 29 Mar. 2013. <http://articles.chicagotribune.com/2012-11-13/business/ct-biz-1113-workplaces-rivers-20121113_1_rivers-casino-bill-keena-top-workplaces>.
Rigby, Bill, and Alexei Oreskovic. "Analysis: New Microsoft Mantra After Sinofsky Teamwork." Chicago Tribune 11 16 2012, n. pag. Web. 25 Mar. 2013. <http://articles.chicagotribune.com/2012-11-16/business/sns-rt-us-microsoft-sinofskybre8af09j-20121115_1_ceo-steve-ballmer-steven-sinofsky-new-microsoft>.
Sadchev, Ameet. "Sidley Sets High Bar For Teamwork." Chicago Tribune 15 11 2011, n. pag. Web. 2 Apr. 2013. <http://articles.chicagotribune.com/2011-11-15/business/ct-biz-1115-workplaces-sidley-20111115_1_law-firms-partner-compensation-sidley-austin-llp>.
National Newspaper Article
Top Workplaces: At Rivers Casino, Employees Supervisors Go with The Flow Problem: Changing a closed work culture is 100 times harder than establishing a work culture.
Solution: Establish an open work culture from the start. Facts:
1. There is a program called "Walk in My Shoes," in which several times a year, every member of the senior management team takes a day to work a different aspect of the casino.
2. Flattening of the management hierarchy at Rivers is a daily occurrence which helps Land Rivers Casino.
3. Since the casino has opened Bill Keena, the general manager, has promoted an accessible work environment.
4. By establishing an open culture the employees are taking more ownership of the casino.
5. Everybody helps everybody. At no time is anyone on their own which is a great feeling.
6. Employee incentives include: $1 meals, free snacks and gym reimbursements, tuition assistance of up to $5,000 annually for education that relates to their jobs, and employees and their relatives can apply for a portion of a $25,000 annual education scholarship. To encourage community involvement, Rivers gives employees a $50 stipend for every eight hours of volunteering.
7. Retention rate for employees has been about 70 percent and turnover is trending down. Teamwork Lesson #2:
If you establish a work culture of openness employees will take more ownership for the business. National Newspaper Article #3:
Sidley Sets High Bar For Teamwork Problem: How to set Sidley Austin LLP apart from all the other large corporate law firms in Chicago?
Solution: Found and maintain a "culture of collegiality" so employees will want to and enjoy working for the firm. Facts:
1. Attorney after attorney at Sidley points to a culture of teamwork and cooperation that has been nurtured for years by leaders at the firm.
2. A partner's success and compensation depends, in part, in helping others succeed which breeds a mindset spirit "we're all in this together."
3. Sidley is the No. 8 large company and one of only two law firms to make the Tribune's Top Workplaces list.
4. The collegial environment among partners extends to relations with younger attorneys, know as associates, and to support staff.
5. Sidley has offered flexible hours to lawyers and has a history of promoting associates on reduced hours to partnership.
6. Sidley is particularly good at promoting and retaining women compared to its peer group.
7. They enforce a philosophy of teamwork by keeping partner compensation a tightly held secret. A lot of times unhappiness with a firm doesn't have to do with what you're making, but how you stack up against other people. Teamwork Lesson #3:
A successful business nurtures a culture of teamwork and cooperation which helps to maintain a culture of collegiality. How can teamwork make a business more successful?
Summary Statement: Teamwork encourages all those involved in a business to think of it as collective property, promoting more thoughtful decision making. Teamwork breeds respect among colleagues. Teamwork allows for an organization to work together to realize shared goals.