Bain & Company Essay -- Business, Team Development

This paper addresses the importance of teams in an organization. Bain & Company, a Boston-based consulting company, exemplifies an organization that has placed team development as a priority in the organization. Teams are increasingly common in organizations for responding to customer’s needs to deliver a product or service. Successful teams are supported by a commitment to empower and enhanced rewards. Bain & Company History has brought organizations to a moment where teams are recognized as a critical component of the business. Today, most work that goes on inside organizations utilizes a team approach, whereas work that takes place outside of organizations relies even more heavily on teamwork. Teams are increasingly common in organizations for responding to customer’s needs to deliver a product or service. Successful teams are supported by a commitment to empower and enhanced rewards. Empowered teams consist of people with complementary skills who are committed to a common purpose or a set of performance goals for which they hold themselves mutually accountable (Laszlo, Laszlo, & Johnsen, 2009). Team Concept Bain & Company, a Boston-based consulting company, goes beyond teamwork, to structure itself around interdependent groups, as a means of improving work processes and providing better quality and service to customers. Bain’s success as an organization is dependent upon getting the right people on the team. Bain focused its recruiting efforts on four major colleges M.B.A. programs, as a way of getting highly qualified individuals, because they have been prepared for management consulting (Dyer, Dyer, & Dyer, 2006). Sometimes teams are made up of people who have different work ethics, but Bain’s succes... ...personal development. Virtuoso teams are fundamentally different from other teams. They are comprised of elite experts, the best in their field and are specially convened for ambitious projects (Boynton, Fischer, 2005). Bain & Company extraordinary teams had a high correlation between effectiveness of the manager and the performance of the member (Boynton & Fischer, 2005). The performance of teams has been attributed to the level of team development within the group. Conclusion In conclusion, when Bain and Company embrace this new construct not only will it raise the bar in terms of team standards for efficient, effective and efficacious operations, but also create organizational dynamics that foster quality of work life and business cultures that are vibrant, alive and thriving. Successful teams are supported by a commitment to empower and enhanced rewards.