LEADERSHIP & TEAM PERFORMANCE

Importance of Leading Teams to Achieve Organizational Goals and Objectives

1.1Assess the effectiveness of the organisation in measuring team performance against organisational goals and objectives3

1.2Evaluate the role of leadership in helping teams to achieve organisational goals and objectives5

2.1Critically review own ability to develop and lead teams to achieve organisational goals and objectives7

2.2Implement changes to own leadership style in order to more effectively develop and lead teams8

T1 Create a one year personal development plan in relation to a leadership role within the credit department.9

SMART Assessment12

T2 Include the action you will take to improve your leadership style in order to develop and lead teams more effectively.12

References14

Appendices16

A1: Appendix 116

A2: Appendix 218

A3: Appendix 320

A4: Appendix 422

A5: Appendix 524

A6: Appendix 626

Importance of Leading Teams to Achieve Organizational Goals and Objectives

Assess the effectiveness of the organisation in measuring team performance against organisational goals and objectives

The current objectives of the credit department include maintenance of receivables while making sales to risky customers; achievement of the predefined DSO targets and improvement of team effectiveness in a strategic context; ensuring fair/equal treatment to all debtors; reduction in cost of the department by 10%; decrease in existing disputes and handle them effectively and promptly; and finally, the development of a manual for training that is effective and aligned with organizational objectives.

The current goal of MCS-D's credit department is to sustain low DSO in most productive and cost effective ways, for this reason the team needs to work efficiently i.e. teamwork drives the performance with the success dependant on the team members, their commitment, direction and drive. MCS-D's currently do not report on team performances, except for minimum requirement in accounts i.e. DSO and over 90days.

For this assignment, various key performances are measured or extracted from the unit's Dec 2012 accounts. (A2) Each measure tells the company how well the team is doing in reaching its target against the investment done in the department.

E.g. DSO tells us how long it takes for the team to collect debts within the terms given to customer i.e. 30 days, 60 days. Any delays in collection is costing the company in interest costs, opportunity costs and cost in extra time taken chasing the debts, telephones, emails, visiting etc.

The measures indicate that the DSO at 81 days seems high against the 'industry norm' of 51 days. This could also be due to Meggitt customers having bespoke terms ranging from 30 days to 120 days.

The average and the best possible days at 62 and 57, could be improved with better communication to steer the team to improve performances

CEI at 79% is reasonable; this could be due to the credit worthy customers Meggitt partners with.

Effectiveness of a leader depends on their ability to influence and be influenced by the group in implementing of the common tasks. A good leader will have an end vision in mind while ensuring that all is running smoothly (Prati et al 2003, pp.21-40).

Leaders can be Autocratic, Democratic, Laissez Faire, Participative or Delegative (A1), whatever the style it is important for ...