Effective Team and Performance Management Essay - 3

Effective Team and Performance Management - Essay Example Effective teams are categorized by traits of trust, mutual respect, cooperation and affability among the team members. Usually, successful teams are ones which have strong leadership and pay a lot of attention to how the team is built. They have a shared vision and sense of ownership so that all members feel responsible and work for the completion of the goal set by the team leader. Another important characteristic of successful teams is the communication factor, teams that do well have an open system of information exchange, team members coordinate among themselves to get the job done and are truthful with each other about work related issues. (Effective Teamwork, Constructing Excellence). This assignment is based on a series of lectures geared towards helping participant groups learn how to best work in groups and helping team members realize what their individual strengths and weaknesses are when working as a part of a collaborative team and how these contribute for the better or for the worse towards the achievement of the end goal. Each lecture involves a different activity, which allows participants to learn different aspects of being part of a team by involving themselves in the activity and reflecting upon it. Our team leader was chosen by a process of voting. All team members took a vote as to who should be our team leader and team member ‘a’ got 3 votes which was the maximum number of votes any team member got and thus the role of leader was delegated to team member ‘a’. Our team was to collaborate across a time period of 8 weeks. We would be attending 8 seminars, one every week and each time a task would be allocated to us and we would have to decide how we would go about it as a team. Once done with the procedure of attaining the goal that was expected of us in the task, we were to reflect upon the strengths, weaknesses, causes of these strengths and weaknesses and possible ways of improvement. One of the exercises was abou t being ‘lost on the moon’. In this task, we were to imagine that we had just crash landed on the moon and the mother ship was 200 miles away. There were just 15 items we had left for survival on our trip from the landing site to the mother ship and we had to rate the items from 1 to 15 in order of importance for survival, 1 being the most important and 15 being the least important. The keys issues we faced here were mostly centered in the difference of opinions among the group member as to what item should be given what rank of importance. The items varied greatly in nature and different people felt that different items were more important for survival when lost on the moon. Our team leader ‘a’ proposed that we brainstorm this situation according to rank so for example we started with rank 15 and all team members suggested which item they thought was least important and the reason why they thought so. This was to the end of convincing other members of thei r reasons so that we could narrow down to one item per rank by agreeing on one thing. And thus we moved up ranks till we reached rank one with our most important mutually agreed upon item. This tactic combined the use of collaboration and brain storming to bring about cohesion in the thought process. Another task was that of ‘the egg flying contest’. Our challenge as a team was to 5 of the 7 resources mentioned to be able to build a mechanism that would enable the egg to not break when dropped from a height of 2 meters. Under our leader, we chose 5 critical items from the given list based on a discussion among the team members concerning building a mechanism to stop the egg from breaking.

Basel III Rules Essay Example | Topics and Well Written Essays - 750 words

Basel III Rules - Essay Example Australia also faced such type of economic recession and banks were exposed to market risk. Thus some more financial reforms are needed that can help the organizations to face the emerging new challenges efficiently. Hence, Basel III norms have been implemented by Basel Committee on Banking Supervision (BCBS). This essay will illustrate the opportunities to be created by Basel III norms that help in providing better financial risk management; it also will discuss the challenges or negative impacts of Basel III. Basel III emphasized on developing risk resilience mechanisms that can be practiced in financial institutions including banks. Basel III norms also called for controlling the financial irregularities by implementing strict regulations. It provided financial protection to banks by following minimum adequate cash reserves that can sustain their financial needs for minimum period of 3-4 months at the time of financial crisis. The risk bearing ability of the banks was also strengt hened through the major financial regulations that are sufficiently dynamic in nature to respond to the market changes positively from time to time (The Economist, 2010). According to the norms of the Basel III, the banks are required to hold a minimum of seven percent of tier 1 capital, namely cash reserves and common stock which is a good jump from present level of two per cent. This is very significant step to provide higher risk bearing ability to banks against the financial crisis. Similarly, the tier one capital is also a core measure of a bank's financial strength and by increasing this component, the risk bearing ability of the banks would be enhanced tremendously. Tier 2 capital will be regulated for its sustainable growth and tier 3 capital will be removed completely according to Basel III norms. In addition, they have to improve the capital requirements for counterparty credit exposures which provide them better cushion to withstand financial shocks. At the same time, as per the norms of Basel III, the risk management of counter party credit exposures and capital buffers have to be strengthened which would provide cushion at the times of financial stress. This would result in higher immunity for the banks against interest rate risk and market risk in future. In consequence, the successful implementation of all these measures suggested in Basel III would certainly enhance the financial stability of the banks and reduce the need for the government bailouts during the financial crises. In contrast, the implementation of some clauses of Basel III has some potential disadvantages and banks have to face new challenges. For example, according to Basel III agreement, the banks are required to hold higher amount of capital reserves with themselves as a protection against the financial risks involved with the longevity of their own debts and the risks that banks attach to different kinds of loans (Peston, 2010). This would certainly provide them better protec tion during the times of financial crisis, but at the same time, the profit margin of the banks and their investment opportunities will erode significantly (Black Swain Insights, 2010). This is because of the fact that the banks have little amount to disburse in the form of loans to the customers and hence they may have to charge additional interest rate. In other words, the