Addressing Challenges of Groups and Teams

Addressing Challenges of Groups and Teams
Irene Better
University of Phoenix

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Addressing Challenges of Groups and Teams
    An effective team works together to achieve a common goal. In 2007 Wachovia CEO, Ken Thompson, had a goal that he envisioned for the fourth largest financial institution in the United States: “to become the best, most trusted and most admired company in the financial services industry.” His vision led the management team of the bank to make decisions that failed to investigate the shortcomings of Golden West Financial and ultimately led to the firing of Thompson as CEO and the short sale of Wachovia to Wells Fargo. However as we learn more about the failure of Wachovia we find that not all top level managers agreed with the purchase of Golden West and neglected to act as a team, they ignored the signs and focused on their individual units.
3C’s of an Effective Team
    Team A discussed how to increase the effectiveness of a group by discussing the challenges and benefits of communication, collaboration, and conflict. The discussion focused on creating a Business Training plan that would...