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7 Virtual Teams that Lead Your Company
Written by: Jo RomanoArticle Overview: Virtual teams bring together people from different cultures, locations, organizations, communities and beliefs. Knowing how to develop and plan these teams can mean the difference between success and failure.
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Free Download - How to Stay Connected in a Virtual Team By Jo Romano |
7 Virtual Teams that Lead Your Company
Virtual teams bring together people from different cultures, locations, organizations, communities and beliefs. Team members are brought together by a common goal and a governing set of rules.
There are varieties of virtual teams, which are based on their specified tasks. These are the following:
1. Action Teams: Action teams consist of individuals who are always ready to react to an urgent situation. They are made up of members that work interdependently to reach a centralized objective. The members are usually geographically separated and just meet over the internet.
2. Development Teams: A project or product-development team's task is to accomplish activities and outcomes for clients in a limited span of time. They are given the prerogative to decide as they conduct these activities. Their activities vary from time to time.
3. Production Teams: Work or production teams carry out routine activities that focus on a single task. Service teams are the groups that cater to the needs of the clients and address their concerns through ongoing immediate technical support.
4. Transformation Teams: Transformation teams are comprised of team members only who come together for the sole purpose of moving the company forward with innovated and diverse ideas for new services and products. The recommendations by staff are communicated to the Management Team who will put them into action. Managers are not included in the Transformation Team.
5. Recognition Teams: A recognition team determines incentives and opportunities to affirm, acknowledge each member's contributions.
6. Hospitality Teams: The hospitality team plans for ways to build the spirit, climate, and culture of the team and organization. The team plans fun activities and ways to build team trust, safety, and comfort within the organization.
7. Management Teams: Management teams focus on a comprehensive system's approach to a business plan. They focus on the critical side of a business and create clarity, direction, and support for all teams.
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Article Tags: common goal, hospitality, incentives, management team, nbsp, objective, people from different cultures, prerogative, product development team, recognition team, routine activities, sole purpose, span of time, team members, technical support, transformation teams, urgent situation, virtual teams
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About the Author: Jo Romano RSS for Jo's articles - Visit Jo's website  Josephine Romano is President of Josephine A. Romano Associates, a Vermont based consultant whose focus is life and work coaching, training, and organizational problem solving. Her passion is working with motivated executives and employees in all levels of leadership, management and support staff in business, government and non-profit settings. Ms. Romano holds a Comprehensive Life Coach Certification with Coach Institute, Pa., USA. She also has a license and certification in Prevention with the International Consortium of Addiction and Prevention Credentialing Boards (ICRC). She serves as an Adult Dialogue Education instructor for Global Learning Partners, Inc., Toronto, Canada. She also teaches training of trainers for Health Realization. Jo specializes in executive and business coaching for CEO's, Middle Managers, Supervisors, Lawyers, Court Managers and Judges. www.lifecoachforlawyers.com She is also an International Certified Substance Abuse Prevention Specialist and provides prevention coaching, consultation, technical assistance, and training to community coalitions, schools, families and the workplace. http://www.greenmountainlifecoach.com Get a free report: http://www.REALWORLDLEADERREPORT.com Click here to visit Jo's website   Types of Difficult People and 3 Best Ways to Interact with Them at Work Loyalty and Leadership 8 Ways to Earn The Loyalty of Your Employees The Time To Act is Now On Becoming a Training Helps Boost Return of Investments 9 Proven Leadership Skills to Expand Your Business |
Related Forum Posts
How to valuate a business
- Hi Garth - here is how we did it at Northern Crown Capital when I was helping them raise venture capital for Toronto-based entrepreneurs. Assume the start date is 2003 so 2008 projections are 5 years out:
How Northern Crown Capital Valuates a Business
2008 Financial Projections
Earnings Before Tax
$5,865,000
Tax Rate
42%
Taxes
$2,463,300
Net Earnings
$3,401,700
Amount Seeking to Raise Today
$3,500,000
Discounted Value of Future Opportunity, 5 Years Out
2008 P/E Ratio
15
Value of Company in 2008
$51,025,500
Discount Rate Applied
30%
Year 2008
$51,025,500
Year 2007
$35,717,850
Year 2006
$25,002,495
Year 2005
$17,501,747
Year 2004
$12,251,223
Value of Company at Investment in 2003
$12,251,223
Less: Investment Amount
$3,500,000
Present Value
$8,751,223
Discount for Risk & Private Company
40%
Less: Discount for Risk & Private Company
$3,500,489
Private Company Value
$5,250,734
Present Value (What the Owner Keeps)
$5,250,734
60.00%
Financing (What the Investor Gets)
$3,500,000
40.00%
Total
$8,750,734
100.00%
I hope this helps!
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[i:189o61sy]The term Generation V (for Virtual) is used to describe the online culture in which relationships, services and communication are carried primarily and preferably through electronic media. Generation Virtual is made up of people from multiple demographic age groups who make their social connections primarily online - through virtual worlds in online games, in social networks, as bloggers, or through posting and reading user-generated content.[/i:189o61sy]
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Shri
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