Diary Financial Management
Diary Financial Management
Diary Financial Management
Team Processes
In the discussion and exercise, team process was learnt by understanding how team members
work to carry out the task assigned for achieving the common goals and how teams can be
useful for the members to grow, develop, and improve also known as process gains.
Similarly, Process loss is also a factor to consider wherein we were unable to get the desired
output from the teams. Discussion was also focused around disadvantages from teams and
how/why teams could fail. These included reason like – social loafing, formation of
subgroups and pushing separate agenda, introvert members and other distractions from the
environment.
An exercise was conducted in the class for a stranded boat and as a team had to decide the
priorities. Data was initially taken in individual capacity and thereafter collectively as a team
and was compared to the solution given by the case setter. Some teams improved the score
while others had better score as individuals than the teams. Tuckman’s 5 stage theory of
group development was also understood with help of this exercise, and we also realized that
certain times some stages can be omitted.
Group/Team Dynamics
Leading Teams
Leading teams was a subject very close to my heart as we have been doing this all our
service lives during the course, we saw leading teams with 2 interesting case studies one was
coach Knight and the second was coach K
Coach Knight’s mantra was to win at all costs he was a passionate old-style coach who
brought a lot of anger a lot of passion into his coaching he was a strict disciplinarian and he
believed he was always right. Pushed in this manner for 36 years and his success was there to
speak for himself ultimately his anger his stubborn became his downfall when he was fired
from his position as the head coach after slightly violent conduct with one of the students
whose father also happened to be a vocal critic of coach Knight. His accomplishments were
second to none many of his students his proteges went prodigies went on to become good and
successful coaches in the history of basketball as well.
Coach K on the other hand was a coach who taught with his heart. His famous quote to the
Time magazine wherein he said I believe in you; you are good, and I am there for you sums
up his idea of coaching. he was a caring person he had family values he was a father figure to
his students, and he was very sympathetic to his players. Surprisingly or not so surprisingly
coach key was one of coach nights initial students at the Westpoint Academy before he left to
teach at Indiana University.
Despite having very good relationship with coach night and being with him for long time
there coaching styles were starkly different for them leadership meant something else for
coach key leadership meant to take everybody along and rules were meant to be used as per
convenience. He proved this by rejecting a liquors $40,000,000 year offer to stay at Duke
which was more of a family to him.
Organizational Structure
Have in this chapter we studied how an organizational structure is designed what are the
reasons for designing it in a particular manner and the tools that can be used for designing the
organizational structure. This chapter also provides us with an understanding as to how utilise
organizational structure for better managerial decisions and managerial control.
in this chapter we also understood different types of organizational structures namely the
traditional ones like Functional, Divisional & Matrix. We also studied and understood the
capabilities of Employee centric and crowd centric structures.
Finally with this note on organizational structure we understood that that's organizational
structures will keep evolving we will have one type or the other but having a particularly
good organizational structure will still not guarantee that we will succeed as an organization
because success of an organization depends on a variety of other factors that are the
individual and collective actions.