Professional Documents
Culture Documents
In this dynamic world, it is the demand of time to use the pool of knowledge from various people
to solve a given problem and group provides that means. Regarding this aspects we have
collected our information from primary and secondary sources.
In our entire report we focus on the whole system of group-its meaning, types, reasons for
forming, forming stages, properties, types of team, components of effective team along with the
limitation of group.
We have divided the topics of the report into different segments. First we have discussed about
the origin of the report, objectives and scope of the study, the method of preparing the report,
limitation of the study. Then we have given the theoretical idea about the topics we are going to
discuss so that the reader can understand the topics clearly. Then we have provided the practical
use of group in four different types of organizations-AB Bank Ltd, National Life Insurance
Company Ltd, Beximco Pharmaceuticals Ltd, and Max Group followed by the comparison of
these organizations related to their use of group. We finally conclude our report with a
conclusion
Chapter-One
1.1 Origin of the report:
~1~
As a partial requirement of BBA program we are required to study the “Financial Markets &
Institutions” course. In the classroom we get the opportunity to know the theoretical part of the
subject. But without practical orientation it is somewhat difficult to grasp the core concept.
Organizational Behavior is entirely based on practical situation. So in order to enhance the
understanding of the core concept, we are required to prepare a report on practical situation to
understand how to implement and practice the theoretical part in real life situation and how to
manage people in organization.
Specific Objectives:
The specific objective of preparing this report is –
To draw a comparable picture of the theoretical approach and the practical applications.
~2~
the people and secondly, create funds for the country’s economic development through
innovative life insurance schemes. This report has been done basically on analyzing the practical
insurance policy practices and whole overview of The Jiban Bima Corporation (JBC).
1.4 Methodology:
The report in this study is basically an inductive one. Two different types of systems have been
selected here based on convenience. The report is based on both primary and secondary
information.
Primary Information: The primary data have been collected from our class lecture and from
The Jiban Bima Corporation (JBC).
Secondary Information: The secondary information has been extracted from various textbooks
of Insurance and financial institutions. Other notable information that was used for this report
was internet.
1.5 Limitations:
In spite of having the wholehearted effort, there were some limitations, which acted as a barrier
to conduct the program and for doing an empirical research work, such as:
Time Constraint:
The study is based on the analysis of Group Behavior But this allocated time is not enough for a
complete and fruitful study.
Lack of Experience:
Due to lack of experience, there is a chance of having some mistake in the report though best
effort has been applied to avoid any kind of mistake.
Secrecy:
Most adequate, exact and updated data have not been available due to the secrecy of the
organizations.
Chapter-Two
Theoretical Overview of Group
2.1 Definition of Group
~3~
It is defined as two or more individuals, interacting and interdependent, who have come together
to achieve particular objectives.
Informal Group: A group that is neither formally structured nor organizationally determined,
such a group appears in response to the need for social contact.
It is possible to further sub classify groups as command, task, interest and friendship groups.
Command Group: A group composed of the individuals who report directly to a given manager.
Task Group: People working together to complete a job task. All command groups are task
group, but all task groups are not command groups.
Interest Group: People working together to attain a specific objective with which each is
concerned.
Friendship Group: People brought together because they share one or more common
characteristics.
1. Security: By joining a group, individual can reduce the insecurity of standing alone.
People feel stronger, have fewer self doubts, and more resistant to threats when they are
part of a group.
2. Status: Inclusion in a group that is viewed as important by others provides recognition
and status for its members.
3. Self-esteem: Groups can provide people with feelings of self worth.
4. Affiliation: Groups can fulfill social needs. People enjoy the regular interaction that
comes with group members.
5. Power: The things which cannot be achieved individually can be achieved through group
action. There is power in numbers.
6. Goal achievement: There are sometimes when it takes more persons to accomplish
specific tasks. It is because of pool of talents, power, or knowledge. In such situation,
management can rely on the use of formal group.
~4~
2.4 Stages of Group Development
Groups generally pass through a standardized sequence in their evolution. We call this sequence
the five stage model of group development. Although not all groups follow this pattern, it is a
useful framework for understanding group development.
For permanent work group, performing is the last stage in the group development. However, for
temporary committees, teams, task forces, and similar groups that have limited task to perform,
there is an adjourning stage.
Limitations:
Many interpreters of the five stage model argued that, a group becomes more effective as it
progresses through the first four stages. But what makes a group effective is more complex than
this model knowledge.
Under some conditions, high levels of conflict may be conducive to high group performance.
Groups do not always proceed clearly from one stage to the next. Sometimes, several stages go
on simultaneously. Groups even occasionally regress to previous stages. Not all groups follow
these five stages precisely or stage IV is always the most preferable.
~5~
Group Property 1-Roles: It is a set of expected behavior patterns attributed to someone
occupying a given position in social units. We are all required to play a number of roles, and our
behavior varies with the role we are playing.
Role Identity: Certain attitudes and actual behaviors are consistent with a role, and they create
the role identity. People have the ability to shift roles rapidly when they recognize that a situation
and its demands clearly require major changes.
Role Perception: Our view of how we’re supposed to act in a given situation is a role perception.
We engage in certain types of behavior. We get them from stimuli all around us-friends, books,
televisions etc.
Role Expectations: It is how others believe a person should act in a given situation. In the
workplace, it can be helpful to look at the topic of role expectations through the perspective of
the psychological contract-an unwritten agreement that sets out what management expects from
an employee and what an employee expects from management.
Group Property 2-Norms: Norm is acceptable standards of behavior within a group that are
shared by the group’s members. All groups have established norms. Norms tell members what
they ought and ought not to do under certain circumstances. Norms act as a means of influencing
the behavior of group members with a minimum of external controls. Different groups,
committees, and societies have different norms.
Group Property 3-Status: It is a socially defined position or rank given to groups or group
members by others. It is an important factor in understanding human behavior because it is a
significant motivator and has major behavioral consequences when individuals perceive a
disparity between what they believe their status to be and what others perceive it to be.
1. The power a person wields over others: People who control the outcomes of a group
through their power tend to be perceived as high status.
2. A person’s ability to contribute to a group’s goal: People whose contributions are critical
to the group’s success tend to have high status.
~6~
3. An individual’s personal characteristics: Someone whose personal characteristics are
positively valued by the group typically has higher status than someone who has fewer
valued attributes.
Status and Norms: Status has been shown to have some interesting effects on the power of norms
and pressures to conform. High status members of groups are often given more freedom to
deviate from norms than are others group members. High status people are also better able to
resist conformity pressures than their lower status peers.
Status and Group Interaction: Interaction among members of groups is influenced by status. High
status people tend to be more assertive. They speak out more often, criticize more, state more
commands and interrupt others more often. Lower status members tend to be less active
participants in group decisions.
Status Inequity: It is important for group members to believe that the status hierarchy is
equitable. Perceived inequity creates disequilibrium, which results in various types of corrective
behavior. Status differences ma initiate conflict as the group attempts to reconcile and align the
differing hierarchies
Group Property 4-Size: Smaller groups are faster at completing tasks than are larger ones and
that individuals perform better in smaller groups than in larger ones.
Larger groups are good for gaining diverse input. Smaller groups are better at doing something
productive with that inputs.
One of the important findings related to group size is social loafing. It is the tendency for
individual to expend less effort when working collectively than when working individually. It
directly challenges the logic that the productivity of the group as a whole should at least equal
the sum of the productivity of the individuals in that group.
1. Setting group goals so that group has a common purpose to strive toward
2. Increasing intergroup competition
3. Engaging in peer evaluation so that each person’s contribution to the group is evaluated
by each group member
4. Distributing group rewards, in part, based on each member’s unique contributions.
Group Property 5-Cohesiveness: It is the degree to which members are attracted to each other
and are motivated to stay in the group. It is important because it has been found to be related to
group productivity. If performance related norms are high, a cohesive group will be more
productive than will a less cohesive group. If cohesiveness is high but performance norms are
low, productivity will be low. If cohesiveness is low but performance norms are high,
~7~
productivity increase but it increases less than the high cohesiveness. When cohesiveness and
performance norms both are low, productivity tends to decrease.
We must remember that team is not beneficial for all the cases.
Work Teams: A group whose individual efforts result in performance that is greater than the sum
of the individual inputs. Teams create the potential for an organization to generate greater
outputs with no increase in inputs. If management hopes to gain increase in organizational
performance through the use of teams, it needs to ensure that its teams possess some common
characteristics.
~8~
Share information------------------------------Goal-------------------------------Collective Performance
1. Problem-Solving Teams: It is the most widely used type. It is typically composed of 5-12
employees from the same department. In this kind of team, members share ideas or offer
suggestions on how work processes and methods can be improved; they rarely have the
authority to unilaterally implement any of their suggested actions.
2. Self-Managed Work Teams: It involves employees in decisions but only for making
recommendations. It is composed of 10-15 employees who perform highly related or
interdependent jobs and take on many responsibilities of their former supervisors. Its
typical tasks include the planning and scheduling work, assigning tasks to members,
making operating decisions, taking actions on problems, working suppliers and customers
The effectiveness of self managed teams depends on the strength and make up of team
norms, the type of tasks team undertakes, and the reward structure the team operates.
3. Cross-Functional Teams: It is the composed of employees from the same hierarchical
level, but form different work areas, who come together to accomplish a task. It is the
most effective type of team. It is an effective means for allowing people from diverse
areas within an organization to exchange information, develop new ideas and solve
problems, and coordinate complex projects. It is time consuming. It takes time to build
trust and teamwork.
4. Virtual Teams: Team that use computer technology to tie together physically dispersed
members in order to achieve a common goal. For most of the case it is not applicable. It
is beneficial for the tasks which are more routine wise. It is not beneficial for the tasks
which are diverse. For virtual team to be effective, management should ensure
that………..
A) Trust is established among team members
B) Team progress is monitored closely
C) The efforts and products of the virtual team are publicized throughout the
organization
~9~
The key components of effective team can be categorized into four general categories…………..
1. Context: It is related to background of a team to make the team. The four contextual
factors that appear to be most significantly related to team performance are given below:
a) Adequate Resources: Teams are part of large organization system. Every work team
requires resources to sustain. A scarcity of resources directly reduces the ability of a
team to perform its job effectively. One of the most important characteristics of an
effective team is the support the team receives from the organization. This support
includes timely information, proper equipment, adequate stuffing, encouragement,
and administrative assistance.
b) Leadership and Structure: Team can’t function if the members do not agree with the
leader. Agreeing on the specifies of work and how they fit together to integrate
individual skills requires team leadership and structure. Leadership is especially
important in multi team systems.
c) Climate of Trust: Members of effective team trust each other and also to their leaders.
Trust is the foundation of leadership.
d) Performance Evaluation and Reward Systems: In case of team, traditional evaluation
and reward system must be modified. In addition to evaluating and rewarding
employees for their individuals contributions, management should consider group-
based appraisals, profit sharing, gain sharing, small group incentives, and other
system modifications that reinforce team effort and performance.
2. Team Composition: It includes the variables relate to how teams should be staffed.
a) Abilities of Members: Some parts of team’s performance depend on the knowledge,
skills and abilities of its individual members. A team’s performance is not merely the
summation of its individual members abilities. However, these abilities set parameters
for what members can do and how effectively they will perform on a team.
To perform effectively, a team requires three different types of skills. First, it needs
people who have technical expertise. Second, it needs people who have the problem
solving and decision making skill to be able to identify problems, generate
alternatives, evaluate these alternatives, and make competent choices. Finally, team
need people who have good listening, feedback, conflict resolution, and other
interpersonal skills. No team can achieve its performance potential without
developing all three types of skills.
Research on the abilities of team members has revealed some interesting insights into
team composition and performance. First, when the task entails considerable thought,
high-ability teams do better than lower-ability team. High ability teams are also more
adaptable to changing situation. Second, when tasks are simple, high ability teams do
not perform well. Finally, the ability of team members is also matters.
b) Personality of Members: Three of the big five traits were especially important for
team performance. Teams did worse when they had one or more highly disagreeable
members. Conscientious people are valuable in teams because they’re good at
~ 10 ~
backing up other team members, and they’re also good at sensing when that support
is truly needed. Open team members communicate better with one another and throw
out more ideas, which lead teams composed of open people to be more creative and
innovative.
c) Allocation of Roles: Teams have different needs, and people should be selected for a
team to ensure that all the various roles are filled. We can identify nine potential team
roles in Exhibition 10-4. Successful work teams have people to fill all these roles and
have selected people to play these roles based on their skills and preferences.
d) Diversity of Members: Studies suggest that, diversity reduces the performance of
team. The key is for diverse teams to communicate what they uniquely know and
what they don’t know.
e) Size of Teams: The most effective teams have five to nine members. Large teams
have trouble coordinating with one another.
f) Member Preferences: Not every employee is a team player. When selecting team
members, individual preferences should be considered as along with abilities,
personalities, and skills. High performing teams are likely to be composed of people
who prefer working as part of a group.
3. Work Design: Effective teams need to work together and take collective responsibility
for completing significant tasks. Work design category includes variables such as
freedom and autonomy, the opportunity use different skill and talents (skills variety), the
ability to complete a whole or identifiable task or product (task identity), and work on a
task or project that has a substantial impact on others (task significance). The evidence
indicates that these characteristics enhance member motivation and increase team
effectiveness.
4. Team Process: It includes member commitment to a common purpose, establishment of
specific team goals, team efficacy, a managed level of conflict, and minimization of
social loafing.
a) Common Plan and Purpose: An effective team has a common plan and purpose that
provides direction, momentum, and commitment for members. This purpose is a vision,
or master plan. It is broader than specific goals. A team has to have a good plan, but it
also has to be willing and able to adapt when condition call for it.
b) Specific Goals: Successful teams translate their common purpose into specific,
measurable, and realistic performance goals. Team’s goal should be challenging.
c) Team Efficacy: Effective teams have confidence in themselves. They believed that they
can succeed. Teams that have been successful raise their beliefs about future success,
which, in turn, motivates them to work harder. Two possible options are helping the team
to achieve efficacy-small success and providing skill training.
d) Mental Models: Effective teams have accurate and common mental models (knowledge
and beliefs) about how the work gets done. If team members have different ideas about
how to do things, the teams will fight over how to do things rather than focus on what
needs to be done.
~ 11 ~
e) Conflict Level: Conflict can actually improve team effectiveness. But not all types of
conflict. Effective teams can be characterized as having an appropriate level of conflict.
f) Social Loafing: Successful teams make members individually and jointly accountable for
the team’s purpose, goals, and approach. Members should be clear on what they are
individually responsible for and what they are jointly responsible for.
1. Selection: Hiring Team Players: Some people already possess the interpersonal skills to
be effective team players. When hiring team members, care should be taken to ensure that
candidates can fulfill their team roles as well as technical requirements. Many job
candidates don’t have team skills. With such candidates, mangers have three options.
First, candidates can be provided with proper training to be effective team players. If it is
not possible, other options come into the picture. Mangers can transfer the individuals in
other units of the organization where have no team or mangers cannot hire the candidates.
2. Training: Creative Team Players: Training specialists conduct exercises that allow
employees to experience the satisfaction that teamwork can provide. They typically offer
workshop to help employees improve their problem solving, communication, negotiation,
conflict management, and coaching skills.
3. Rewarding: Providing Incentives to Be a Good Team Player: Promotions, pay raises, and
other forms of recognition should be given to individuals who work effectively as
collaborative team members. This does not mean individual contributions should be
ignored; rather, they should be balanced with selfless contributions to the team. It is
exciting and satisfying to be an integral part of a successful team. The opportunity to
engage in personal development and to help teammates grow can be a very satisfying and
rewarding experience for employees.
Chapter-three
Practical Overview of Group behaviors
~ 12 ~
3.1 AB Bank Limited
Background
AB Bank Limited, the first private sector bank was incorporated in Bangladesh on 31st
December 1981 as Arab Bangladesh Bank Limited and started its operation with effect from
April 12, 1982.
AB Bank is known as one of leading bank of the country since its commencement 29 years ago.
It continues to remain updated with the latest products and services, considering consumer and
client perspectives. AB Bank has thus been able to keep their consumer’s and client’s trust while
upholding their reliability, across time.
During the last 29 years, AB Bank Limited has opened 81 Branches in different Business
Centers of the country, one foreign Branch in Mumbai, India and also established a wholly
owned Subsidiary Finance Company in Hong Kong in the name of AB International Finance
Limited. To facilitate cross border trade and payment related services, the Bank has
correspondent relationship with over 220 international banks of repute across 58 countries of the
World.
~ 13 ~
Group’s Tasks
They use groups to accomplish various types of works such as deposit mobilization, credit
marketing, investment decisions, liquidity purpose etc. They put deadline for the groups to
accomplish tasks.
Group Norms
There are no special norms. Group members have to follow the regular norms which are
established by the organization including discipline.
Group Size
Most of the time they form medium size of group consisting member’s number of 10-12. They
mostly prefer small group consisting member’s number of 4-5 because they believe that small
groups work best. They also believe that group size has impact on group performance.
Social Loafing
Although they do not eliminate the social loafing problem from their groups, but they are very
much strict about this because they believe that social loafing can hinder the group performance.
Team Preference
They prefer collective output. For problem solving, they mostly prefer the cross-functional work
team. They put emphasize on collectivism in selecting team members. They usually do not
provide training to the group members unless conditions demand. There are some factors those
are related to team performances such as adequate resources effective leadership, a climate of
trust, performance evaluation & reward system
Conflict
Conflict exists in the group. Management uses discussion as a tool for minimizing conflict.
~ 14 ~
Team Efficacy
Group discussion is the technique management use to increase the team efficacy.
The first private sector life insurance company in Bangladesh incorporated on 12 February 1985
as a public limited company under the Companies Act 1913 to engage in life insurance business
according to the provisions of the Insurance Act 1938 and Rules 1958 and other applicable laws
and rules. The company commenced business on 23 April of 1985 with an authorized capital of
Tk 200 million divided into 2 million ordinary shares of Tk 100 each. Its paid up capital on 31
December 2000 was Tk 30 million fully paid by four types of shareholders namely, sponsors
(50%), companies, financial institutions, and general public. The company is listed with the
Dhaka and Chittagong Stock Exchanges.
Premium incomes of the company in 2000 were Tk 845.48 million comprising first year
premiums, renewal premiums, and premiums of group insurance and Jana Bima, a special
insurance scheme to provide the yield and the benefits of life insurance to very low income
group people of the country. Shares of the above components in premium incomes in 2000 were
Tk 321.84 million, Tk 410.31 million, Tk 15.08 million, and Tk 98.25 million respectively. Life
insurance claims paid by the company in 2000 were Tk 146.89 million. The company maintains
a life fund to pay the unexpired risk in future and in 2000, the fund accumulated an amount of Tk
967.11 million. Types of life insurance services provided by the company are death claim-
ordinary life, death claim-group life, death claim-Jana Bima, survival benefit-ordinary life,
accident and FIR benefit, ex-gratia claim-ordinary life, ex-gratia claim-Jana Bima and group
insurance.
The company has income from its investments in Pratirakkha Sanchaya Patra (defense savings
certificates), shares and debentures of companies, National Investment Bond, T&T Treasury
Bond, and Agrani Bank Shilpa Unnayan Bond. These incomes totaled Tk 71.26 million in 2000.
As a part of further diversification of its investment portfolio, the company participated in the
equity of a multi-national company named Industrial and Infrastructure Development Finance
Company Ltd. It sponsored that company in association with 7 banks and few other insurance
companies.
The assets of the company were valued at Tk 1,427.10 million on 31 December 2000. The
company paid dividends at varied rates depending upon the volume of its profits and on the basis
of valuation by the actuary and audited accounts. Dividend paid by the company in 2000 was
30% on its paid up capital.
In 2001, the company had 63 branches and 4 area offices of Jana Bima throughout the country. It
had 1,138 personnel, including 34 executives headed by the managing director, who is also the
member secretary of the company's 36-member board of directors. [S M Mahfuzur Rahman]
~ 16 ~
plan. In the later case, they follow some formalities to bring out the best possible results. Formalities
include basic group making criteria and following tactics of formulating best outcomes.
NLI forms committee instead of specific group or team. Functions of a committee can be defined as like
the functions of both group and team. In general sense the committee performs both as a group and a team
according to their needs. But more precisely, their committee acts as a team.
Committee characteristics
NLI makes committee informally which means they have no form al criteria to make a committee.
Neither have they followed any model nor any stages of group formation. Simply most of the committee
consists of 4-5 members. But decision making committee may be large in the number of members. In this
case they emphasize on needs. Rarely committee size show impacts on the performance. But as per their
experience, they find medium sized committee works best.
~ 17 ~
They provide various training to enhance the performance of the team members.
Team performance
NLI believes effective leadership is the key to bring about ultimate success of any committee.
Group conflict
There are conflicts among committee members. This is common to them. Especially conflicts of
personality exist.
Evaluation
They simply follow the outcomes to evaluate the performance of team. Without result they do not follow
any other strategy or criteria to evaluate the performance of the committee.
Rewarding systems
National Life Insurance Company does not follow any rewarding systems. Instead, they consider the
committee member’s work as the normal responsibility of their employees.
~ 18 ~
Background
~ 19 ~
There are some formal models to establish a group but Beximco Pharma Ltd does not follow
such formality. It sometimes focuses on call up a meeting, discuss the goals and specify the
people to make up a temporary group which becomes demolished after achieving the goal.
Beximco Pharmaceuticals Ltd. works through small group composed of 3-4 individuals with
specific deadline, because they think that small group works best and faster although they have
an impression that group size does have any impact on problem solving at all.
The individual contribution to group’s goal determines the individual status within the groups or
member of the group though there is no impact of status on group interaction perceived by HR
manager.
Social Loafing:
There is no chance of Social Loafing by the members of group because individual activities in
group performance are highly monitored by the authority. That’s why there is no way of
hindering the formation of group.
• Adequate resources
• Effective leadership
• Climate of trust
~ 20 ~
• Performance evaluation and reward system
BFL gives priority to the diversification of members in composing teams which may sometimes
creates team conflicts.
Strengths
• Ability
• Personality
• Diversification of role
Limitations
• Decline of cohesiveness
~ 21 ~
• Increase social loafing
~ 22 ~
3.4 Max Group
Background
Max group started back in 1983 and is now incorporating as a private limited company. It is
owned and managed by a group of qualified engineers and has couples of manufacturing
industry. It has also companies engaged in trading and are representing overseas companies in
Bangladesh as exclusive agent basis.
It is manufacturing various railway track fittings and power transmission line hardware. It is
enjoying the reputation of number one manufacture in the country of all the items that it
manufactures in the country both for railway and power boards. It is the number one railway
track construction company in the country having all modern mechanical equipments for
producing of track and maintenance of track. It has highly qualified and experienced local and
foreign engineers working with it. It represents world renowned track fitting manufacturer in
Bangladesh and is marketing various automobile and railway products by importing from its
principal. It is the exclusive distributor of national lubricants which is available anywhere in the
country.
~ 23 ~
Different aspects/Attitudes toward Group Behavior
Max group is the leading manufacturer of various railway track fittings and power transmission
line hardware and importer of automobile, railway products and lubricants. It has an efficient
management comprising with some qualified managers who are responsible for planning,
supervising and controlling the whole business units. They prefer group work in every business
unit. The groups they formed particularly work for problem solving, supervising particular
production process, maintaining import activities, increasing sales, making decision about
specific matters, generating new ideas etc. The establishment of groups and maintenance of its
procedures, norms, status and behaviors of this company is not very much similar to those of our
text book. Managers of this company use groups which can be categorized as follows:
Workers’ group: It is generally comprised with some efficient worker level employees, who
are responsible for solving the problems of a particular production process, increasing outcomes
and complete the production within due date specially for contractual orders.
Engineers’ group: Generally comprised with some experienced local and foreign engineers
have the authority to solve the problems of a particular production process, supervise the
particular production process whenever necessary and improve the quality of production.
Import based group: This group usually works for maintaining import activities and solving
problems in this area.
Marketing based group: It is generally comprised with some efficient marketers who work
for increasing sales and responsible for solving the problems in this area.
Through using these types of groups managers are eligible to operate such large business units
effectively and efficiently.
Group characteristics
Management usually uses formal, informal and task groups. Company does not follow any
model in forming group. Usually there are no stages in forming group in this company but
processes are predetermined by management. There are large, small and medium sizes of groups
in this organization. Large group consists of 10-12 members and small and medium groups
consist of 4-8 members. Small groups work best for import activities, large groups work best for
production activities and medium groups work best for marketing activities.
~ 24 ~
Objectives of the formation of group
The objectives of forming group are follows:
problem solving
supervising particular production process
maintaining import activities
increasing sales
making decision about specific matters, generating new ideas
generating new ideas.
Types of team
Problem solving team is usually used production purposes. Cross functional team is used for
supervising and controlling purposes.
Technical and management skills have got much importance in case of forming a group. Usually
engineers groups require members who have technical skill. Others groups require both technical
and management skills. Group members are provided with training facilities to improve their
skills.
~ 25 ~
Performances of group
In most cases groups provide effective solution to critical problem s. But some cases such as
managerial decision making about rewarding system groups are proved as ineffective. Groups
have improved the overall performance of the company. There are some factors related to
performance. They are:
adequate resources
effective leadership
a climate of trust
performance evaluation and reward system
Properties of team
Abilities of members and sizes of teams are the two most important properties that are given
priority in composing of groups.
Sometimes conflicts exist in group especially in transmission of raw materials and in some other
steps of production. There are some ways that the management exercises to minimize group
conflicts such as:
dynamism
updating with new technology
incorporating different skills
~ 26 ~
Performance evaluation
The management of this company evaluates group performances based on actual outcomes. They
use automatically electronic quality checking machine to check the quality of electrical
hardware.
Chapter - four
~ 27 ~
4.1 Analysis:
Before concluding our report we have to write our analytical view towards the group works of
aforementioned companies. Through analyzing the group works of banking, insurance, public
limited company and private limited company we have found some similarities and
dissimilarities. The similarities about the group works of aforementioned companies are:
two production companies Beximco Pharmaceuticals Ltd and Max Group form and
practice engineers and chemist groups where as National Life Insurance Company (NLI) and
AB Bank Limited do not practice it
in public limited companies the implementation of decisions taken by groups is a lengthy
process if it requires the approval of Security Exchange Commission or Annual General
meeting where as in private limited company the implementation takes place rapidly.
Here is also an important point of view that the groups work and behavior practices of
aforementioned companies are quite different from our text book. It would be better if some
contents of text book were in practice of real world. For example if we incorporate “Group
model” in real world practice it must be easier to accelerate group works.
Chapter-five
5.1 Conclusion:
~ 28 ~
In this global village, every organization is facing increasing competitions to survive. Mangers of
these organizations must take appropriate decision within the limited time to be in the
competition. In this situation mangers often seek for the individuals who have the experience,
energy, quality, potentials to do the certain tasks. And group is the appropriate solution that the
managers are searching.
As organizations varies, so as the group varies with the motive of forming, members selection,
conflict, reward system along with other things. But the bottom line is that, an organization’s
performance may depend largely on the performance of several groups within the organization
~ 29 ~