Factors That Affect Global Economy Essay

1000 Words Mar 20th, 2016 null Page
As the world becomes a smaller place, more companies are utilizing team-based structures in order to effectively respond to a constantly shifting global economy. Teams comprise of two or more individuals who, working together, produce results greater than the sum of each individual members’ input. However, although the advantages in flexibility teams have over individuals helps them better compete globally, team-based structures still possess several disadvantages, including issues with conflict and efficiency. Thus, organizations must take several steps involving three factors: contextual influences, team composition, and process variables, in order to create the most effective and advantageous team possible.

Almost all organizations are turning to teams to solve complex issues because of their effectiveness. The diversity that often accompanies teams can be beneficial. Cross-functional teams, which are teams comprised of employees from different areas, are dependent upon diversity, and are especially superior to an individual when it comes to accomplishing multifaceted tasks. Surface-level diversity (characteristics that are easily perceived, such as gender and race) often reminds employees to be more accepting and open-minded. With the greater number of different perspectives, talents, and knowledge that accompany diverse teams, decisions and solutions are often preceded by more complete information gathering and longer discussions. Decisions are therefore more…

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