Bow Valley College: Business Management Report on Team and Strategy

This report addresses key aspects of business management, focusing on team development and performance measurement within the context of a real-world scenario. It begins by applying Tuckman's model of team development, outlining management interventions at each stage (forming, storming, norming, and performing) to ensure team progress and achievement of business objectives. The report then explores the use of the Balanced Scorecard as a performance metric, detailing its four perspectives: customer, internal business, learning and innovation, and financial. These perspectives are used to assess overall business performance and guide strategic decision-making. The report emphasizes the importance of leadership in fostering team cohesion, addressing conflicts, and implementing strategies to improve overall business outcomes. The provided content is a solution to an assignment from Bow Valley College, and it is designed to provide insights into effective management strategies for a struggling business.

Running head: BUSINESS MANAGEMENT
Business Management
Name of the Student:
Name of the University:
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1BUSINESS MANAGEMENT
Management Intervention in Reference to Tuckman’s Model of Team Development
According to Tuckman Model, there are four stages of team development that are
forming, storming, norming and performing (Turaga, 2013). However, the management
intervention at each stage for ensuring continuous development of the team and meeting of the
business objectives is as follows:
1. Management Intervention at Forming: This is the stage of formation of the team
when the members work together a make an effort in knowing each other. To ensure team
development the leaders should play a vital role at this stage since the responsibilities of the team
members not defined.
2. Management Intervention at Storming: This stage refers to conflict that leads to the
creation of unforeseen problems and ultimately to team failure. The management at this stage
should clearly define the team goals and the position of the team members for ensuring
development.
3. Management Intervention at Norming: Here the team members develop a
commitment towards not only the work but also the goals. The management at this stage must
ensure socialization amongst team members. The management should also take a note that tasks
are evenly distributed and not imposed.
4. Management Intervention at Performing: This is the stage where the hard work of
team members leads to the fulfillment of the team goals. Management at this stage should
intervene by adopting newer strategies for team development.

2BUSINESS MANAGEMENT
Using Balanced Scorecard for Measuring Overall Performance
Balanced scorecard refers to the performance metric used for strategic management for
identifying and improving the internal business functions and their necessary outcomes (Perkins,
Grey & Remmers, 2014). The Balanced Scorecard is used for measuring the overall performance
by taking into account four vital perspectives that includes:
1. Perspective of the Customers: Managers should know if a company satisfies the
customer needs
2. Perspective of Internal Business: It is necessary for the managers for focusing on
critical internal operation that satisfies the customer needs.
3. Perspective of Learning and Innovation: This implies the ability of the organization
in improving, innovating and learning that add to its value.
4. Financial Perspective: These measures primarily focus on the market share and profit.

3BUSINESS MANAGEMENT
References:
Perkins, M., Grey, A., & Remmers, H. (2014). What do we really mean by “Balanced
Scorecard”?. International Journal of Productivity and Performance Management, 63(2),
148-169.
Turaga, R. (2013). Building trust in teams: A leader's role. IUP Journal of Soft Skills, 7(2), 13.