Assignment on Business Economics for UK students

Introduction

Unemployment is one of the most significant issues in the current world. In the recent time it is most significant as in the last decade, a turbulent recession hit dangerous axe on the root of global economy. The total global economic system has been fallen. For that reason, the unemployment has raised in a great level. In this assignment, I will go for the definition, theories regarding unemployment, negative impact of unemployment. Not only will I go for detail about the different matters & terms regarding the unemployment in the first section. At last I will go for the critical analysis on the reasons about the fall of unemployment rate within UK in the current times when this country has already faced double-dipped recession after 2008-2009.

Section-A: Unemployment

Outlines:

Ä  Introduction to unemployment

Ä  Definition of unemployment

Ä  Theories regarding Unemployment

Ä  Measurement of unemployment

Introduction to unemployment

Unemployment recognized as the social curse. This may be termed as the higher supply of labour than the lower amount of demand in the market. Dissatisfaction, aggravation and anger are generated by it within the citizens of a country. Eventually, it can guide to the breakdown or destruction of the society itself if not checked. When persons are with no work in addition to vigorously seeking work, joblessness or unemployment occurs (Barker, 2005).

Under-employment is the emergence of the group of people In an enlarged meaning,:

Ä  Working less hours and days than desired

Ä  Working with labour contracts different from desired ones

Ä  Working in places where their competences are not full-employed

Ä  Productivity is lower than it would be on another job.

A measure of the occurrence of joblessness is the unemployment rate as well as a percentage by dividing the figure of unemployed persons by all individuals at present in the work force, it is calculated. An economic system typically experiences a moderately high joblessness rate during periods of recession.  Within 2012, additional 197 million persons internationally are out of work. High level of unemployment is harmful for the living standard of personal & family life. It impact negatively on the nationally and internationally. Dissimilarity between the financial costs arising from individuals out of work and the societal costs determines the impact of unemployment (The guardian, 2013).

Definition of unemployment

When an individual who is searching for employment with dire needs is not capable to discover work, than unemployment occurs. As an estimation of the health of the economy, unemployment is expressed. The unemployment rate is the most regularly cited gauge of joblessness. Through the figure of individuals in the labour force, the figure of unemployed people alienated to create unemployment rate (Barker, 2005).  

Figure: Unemployment

Source:  www.s-cool.co.uk

With dissimilar definitions relating to who is an "unemployed person" as well as who is in the "labour force”, numerous dissimilar variations of the unemployment rate exist. The grounds of unemployment, the varieties of schools of economic consideration vary. Because the skills of labourers in addition to the positions obtainable are somewhat out of sync even under the best financial circumstances, a Keynesian finance proposes that there is a "natural rate" of joblessness (Abraham, 2005).

Some key labour market definitions:

Ä  Unemployment rate:     =             the percentage of the workforce that is registered as unemployed

Ä  The labour force:             =             the number of people in employment + the registered unemployed

Ä  Working population:       =             the population of working age (estimated in 2002 to be 36.5 million)

Ä  Participation rate:            =             the percentage of working population who are in the labour force

Ä  Long term unemployed                =             the number of people out of work for at least one year

Ä  Vacancies                            =             the number of registered jobs available but as yet unfilled

Ä  Employment rate             =             the percentage of population of working age that is in a                                   job

Types of unemployment:

Frictional Unemployment: Because of people moving among jobs and who are unavailable in job search, this is intended or else transitional unemployment

Structural Unemployment: When persons are made unemployed since of ‘capital-labour substitution’ that reduces command for labour within an industry, structural unemployment occurs. On the other hand, redundancies in addition to employee lay-offs are caused in case of an extended decline in demand (Andrew, Bernanke and Dean, 2011).

Cyclical Unemployment: Because Of a lack of demand instinctive or "demand deficient" joblessness are cyclical joblessness / unemployment.

Classical unemployment: The consequence of genuine wages remaining higher than their market clearing level leading towards a surplus supply of work is the traditional unemployment (Andrew, Bernanke and Dean, 2011).

Theories regarding Unemployment

There remains substantial theoretical discussion regarding the causes, penalty and solutions for unemployment. Classical economics & neo classical economics argue that market mechanisms are dependable means of resolving unemployment. These theories dispute against interventions forced on the labour marketplace from the exterior, such as unionization, bureaucratic work rules, least amount wage laws, taxes, in addition to other regulations that they claim dishearten the hiring of labour (Andrew, Bernanke and Dean, 2011).

Keynesian theory:

The cyclical natural of unemployment is emphasized by Keynesian finances as well as in the financial system that it claims will diminish joblessness during recessions, recommends government interventions. On recurring shocks that unexpectedly decrease collective demand for merchandise and services in addition to thus reduce demand for workers are absorbed by this theory (Barnichon, 2010).

Comprehensive theories of unemployment:

There are a small number of categorizations of joblessness/unemployment that are used to more precisely representation the effects of joblessness/unemployment inside the economic system are included in these comprehensive theories of unemployment. A difference among the supply as well as demand of labourers with essential skill sets, the major types of joblessness include structural joblessness which focuses on structural trouble in the economy in addition to inefficiencies intrinsic in labour markets (Barnichon, 2010).

Measurement of unemployment

At the present wage rate, unemployment accounts for the fraction of the work force willing to work but they are unable to find out the work. Towards calculate the unemployed workforce, a variety of methods are applied like following (Easton, 1980):

The Claimant Count:

Within the 1980s in addition to the 1990s, this process of scheming unemployment was extensively used. Essentially takes explanation of the numeral of heads jobless in addition to receiving unemployment benefits according to this method. Since there may be double counting of people who have registered themselves within employment exchanges in addition to persons who are receiving the joblessness payback, calculation should be prepared with care. Through using managerial accounts, the process has two compensation of scheming unemployment. Initially, a total count of the jobless in addition to so it is gratis from any sampling mistake is taken by this means.  Secondly, obtaining very cost effectual as well as is accessible on a normal foundation of data (Easton, 1980).

Figure: Climate count unemployment, Source: http://tutor2u.net

Towards maintain the Job Seeker's Allowance, the Claimant count calculate of unemployment counts only those individuals who are qualified. In October 1996, replacing unemployment advantage, the JSA was introduced. Before touching onto special service measures, claimants who make happy the criteria take delivery of the JSA for six months (Easton, 1981).

The Labour Force Survey

Through taking household survey, the Labour Force Survey is done. A benchmark questionnaire is equipped. About their employ status as well as the applicable data is taken, all persons in the practicable age are asked (Easton, 1980).

Numerous disadvantages are contained by the labour force survey. Ambiguous answers may be offered by the respondents. Knowledgeable supervisors in addition to interviewers are necessary & a well-resourced statistical communications is mandatory (Easton, 1980).

Figure: Labour Force Survey

Source: http://tutor2u.net

Those who have looked for employment in the past month as well as are able to start employment in the next two weeks are enclosed through the Labour Force Survey. Persons who are out of work as well as claiming assistance are included through the claimant count up. As unemployed base the ILO description, it excludes a numeral of people who are classed, for instance women seeking (Easton, 1981).

Section-B: Solutions to Unemployment

Outlines:

Ä  Govt. contributions to reduce unemployment

Ä  Reasons behind the increase of employment in UK despite economic downturn

Govt. Contributions to reduce unemployment

Two most important categories of tools are used by a government to decrease unemployment. The accessibility in addition to cost of currency in the wealth is these tools. It means printing more currency at the simplest stage. At an incredibly low interest rate, the administration can loan the economy cash into the wealth and creates growth, this makes currency inexpensive to borrow the currency flow. The government lends at a superior rate, making borrowing more costly, and decreasing the currency supply, constricting growth, in addition to slowing price rises, if there is inflation (Easton, 1981).

Financial policy is other to be considered. Fiscal policy is administration taxing in addition to spending. By growing taxes, thus plummeting the usable income of customers, in addition to redirect that currency to precise projects, an administration can slow a financial system. Towards make use of the greatest number of workers, new-fangled deal distorted the tax construction, as well as rented money, spending that currency purposely on jobs projects (Reserve Bank of New Zealand, 1982).

On the way to be over economic policy, lower taxes, and lower government spending, creates monetary and job expansion in the private division, can be lowered by the government. The enlargement shaped through lower taxes creates additional tax income in the long run because of the greater whole expenditure is also urged with them (Reserve Bank of New Zealand, 1982).

Lower taxes lead to augmentation to a point & there are deteriorating proceeds is agreed through one party. Compulsory government functions are impaired, because tax revenues reduce at a better rate than increases within revenues fashioned with growth, when taxes turn out to be too low (Philpott and Stroombergen, 1980).

Specific recommendations for the government to reduce the unemployment (Jahoda, 1979):

Ä  Within the basic industries manufacture heavy investment: Within heavy, the fundamental industries & purchaser goods industries asset should be augmented. The length of with the complete customer goods, they present more employment.

Ä  Small as well as cottage industries expansion: Through providing labour concentrated techniques, as they make available more employment.

Ä  Checking population blast: through adopting family planning & wellbeing scheme, fast rising inhabitants should be tartan.

Ä  Educational system change: On the way to vocational teaching, more highlight should be given.

Ä  The Agriculture Modernization: On behalf of lowering the joblessness the reconstruction of the agriculture will be done & waste lands should be used.

Ä  Rural works programmes opening: Rural workings programmes should be augmented.

Ä  Infrastructure of economy development: In favour of lowering the joblessness infrastructure of the economy should be developed (Gallacher, 2004).

Ä  Subside to the privet sector: For lowering the unemployment Subside & other incentives should be given to privet sector.

Ä  Encouraging self employment: For lowering the unemployment the self employment will be encouraged.

Reasons behind the increase of employment in UK despite economic downturn

Figure: Upward trend of unemployment t in UK

Source: Labour force statistics

In the recent time the world’s economy is going through the critical way. In the recent past the world’s economy has experienced a strong back push. For that reason all country of the world has been affected. The most important victims of the recession are the western world & the economically improved countries. Among them Britain is one of the most significant one to experience a greater national economic shock in this recession. UK is one of the most developed countries of the world. Not only that this country have the position sixteen in the world economic evaluation. The recession of 2008-2009 has greatly lowered the economic growth. It was the first shock for Britain. But not only that this largest representative of the world economy has experienced another recessions in the very beginning of 2012 which is called as double-dip recession (The guardian, 2013).

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We know that the recession leads a greater amount of the unemployment within the countries all over the word. So, all the countries have experienced the same fate but Britain. Although the economy of Britain has faced a greater shock, unemployment of the country has not increased. Not only that but also this employment rate has been raised in a significant range. The unemployment rate has been fallen. In the above figure it is very clear to us that the employment rate is being higher in UK.

Now, it is the term to face the common question for that magical situation of the economy regarding unemployment. Why this is being lowered? Yes the reason for that is the following:

For the first, according to the BBC report, in the very beginning of the recession period in 2008, the unemployment rate raised. But in the recent years the unemployment rate surprisingly diminished. The reason behind it is that the part-time jobs have worked as the factor to reduce the unemployment rate. Not only that the consumers has developed a view to have the lower expected level of income (BBC News, 2010).

Secondly, we can explain the expansionary economic policy for the economy which creates the higher growth of the economy. It has contributed the reduction of the economic strength to lower the unemployment. The reasons for it are that, this policy has initiated the different trend in the economy of UK through the change of the aggregate demand of the customers and the psychological change of consumer. Incas of the policy the economy has taken the big amount of money as the flow. This has created the growth within the economy which provided the gre3ater increase in the employment rate and decreased the unemployment (The guardian, 2013).

Another more vivid reason for the development of the employment condition of the UK economy to chess the unemployment situation within the economic situation of the country is the broadening the diminution of the scopes to have the employments. In the recent time the UK economy has the gr4eater benefits from the access of the world labour market through pert time and the free lancing. With the help of the technology, the employees of the countries are working in the world’s labour market. For their skills they are making their job in these sectors all over the world. For that reason they are not only reliant on the local job having. They are outside from the local labour market. In this situation the economy is earning and the local job opportunities are prepared to support the citizens. For that reason the UK economy has experienced the decreased amount of the unemployment rate (BBC News, 2010).

The steps to increase the dispose able income of the UK citizens are other steps of the UK government to reduce the unemployment rate of the country. The reason behind it is that without the higher flow of the disposable income, the citizens will not be able to have the more purchase. To increase the disposable income for the citizens, the government has enhanced the scope of the manufacturing based industry within the country which has enabled the employees to have the more amount of the disposable income. The increase affected the economy to make further growth to make the extended amount of the employment (The guardian, 2013).

In the recent situations shows that the UK government has take lots of steps to make the labour force skilled. They have taken different steps where the vocational training to the people ranging from the school leavers to the higher officers from corporate world. This helped to have the employment for the citizens (International Labor Comparisons, 2012).

In the recent year one of the biggest events of the games named Olympic has occurred in UK which created different temporary job opportunity for UK people. This has given the biggest opportunity for the rise in the index of the employment of UK. In this event thousand of new work had created by UK.

The UK government has created the flexible environment for the world investors to make the investment for UK. It has made the best opportune ground for the foreign investment. This increase in foreign investment created the scope to increase the employment rate foe the labour of UK. This has reduced the rate of the unemployment of the UK economy (International Labor Comparisons, 2012)

Though the above steps for the by the government of UK has made the greater opportunity for the UK economy to experience the higher rate of the employment. This reduced the unemployment rate significantly.

Conclusions:

In this assignment, I described the definitions, theories regarding unemployment, negative impact of unemployment. Not only have I gone for the discussions about the different matters & terms regarding the unemployment in the first section. In the next section, I made the government’s contribution within the reduction process of unemployment. At last I made the critical analyse on the reasons about the miraculous fall of unemployment rate within UK in the current times when this country has already faced double-dipped recession after 2008-2009.

Assignment on business skills for UK students

Changed work activity & structure in business: 

The business world is facing a revolutionary change. The completion is rising day by day. Firms are in an intense competition for the achievement of the major market share to increase their profitability. For generating high income from the investment, organizations are paying more attention on the strategic operations of the business activities. For the strategic operation, the organization needs the maximum performance of organizational workforce. For that reason to ensure the better performance of the employees within the organization different strategic options are being followed. One of them is teamwork. For the better combination of the workforce, the organizational hierarchy is being flattened day by day for ensuring the better communication to generate the highest level of team efforts. Not only that but also in case of greater global extension, the organizations is facing the interactions with different culture & society which works as the reason for the changing form of business operation to response the environment. On the business environment, the technology has enhanced the extended opportunity and threat for business. The technology has enabled the business organization to perform their operation effectively and efficiently to achieve their desired goals and objectives. On the other hand, it has accelerated the competition which made the challenges for the organization to sustain in the competition (Davis, 2009).

Element-1

Group:

Group is the collection of three or more people who are in the purpose to achieve a common set of goals thorough regular contact and frequent interaction, mutual influence, common feeling of camaraderie.

Theory of group:

In the group, the people come to have the common objectives to share the ideas, philosophy & common areas of knowledge to achieve the set of common goals. Here, all the members gaiters regularly or frequently for functioning jointly with protecting the personal identity.

Types of group:

Formal group: Formal group is the group which is made for the accomplishment of a specific type of job or task within an organization. Group for launching a particular product within the market is the example.

Informal group: The group which is not made for a formal organization and formed with informal people for helping themselves in achieving mutual objectives.

Primary group: The primary group is the collection of the small cluster of people to meet regularly. The family is an example of primary group where the members meet regularly.

Secondary group: The group which will be formed with a large number of people will be called as the secondary group. The example of secondary group is the social gathering.

Team:

In a team there are a group of people who are arranged to achieve the common purpose. In case of team, the tasks for what a group of people gathers are highly interdependent and complex. In this task there are different subtasks to accomplish the major task. These different subtasks are imposed on different members of the team (Forsyth, 2006).

Theory of team:

Teams normally have members with complementary skills and generate synergy through a coordinated effort which allows each member to maximize his/her strengths and minimize his/her weaknesses (Forsyth, 2006).

Types of team:

Task team:

To resolve a clearly defined task, goals & problem, the task team is formulated by the organization or the entity. Here, the common purpose of the members will be to task/goals or problem. The work of the members will be interdependent to attain the task.

Cross-functional team: In the cross-functional team, there are several members from different levels of the organization with different capacity. But their effort will centre on the common goal achievement.

Virtual team:  Virtual team is the team where the members of the team are not gathered physically but through technologically to achieve specific gals with the help of combined efforts of the persons (Ale Ebrahim, Ahmed, Taha, 2009).

Self-managing team:  Self-managing team is the team where there will be different team members with the complete or partial responsibility for their tasks performed.

Difference between team and group

Team	Group
Team is formed to achieve the pre-organized common purpose with the combined effort. For the accomplishment of the team objective collaborative efforts must be required.	Group is the combination of the three more people to have a set of common purpose where the collaborative effort is not necessarily required.
In the team, the whole team is responsible for the failure and success of the efforts jointly.	In the group, the whole group is responsible for the failure and success of the efforts individually.
The outcomes of the operation are shared among the members.	The outcomes of the operation are not shared among the members.
The members of the team are highly motivated to co-operate the other members as their personal performance is fully dependent on the joint efforts.	The members of the team not are highly motivated to co-operate the other members as their personal performance is not dependent on the joint efforts.
A team leader is highly successful than any group leader as the team leader has the full control over the members.	A group leader is not successful like a team leader as the group leader has not the full control over the members.

My project whether team or group:

The project where I am involved in is to increase the sales of the store where I work.  In this project, there are ten members. All the members of the project are in performing the specific objectives. To co-ordinate the skills & efforts of other members, I am the project manager or project leader. For that reason, I can easily make comment that the collection of people which I lead is a team to achieve a specific goal (Davis, 2009).

Justification of the comment:

It is clear that the project which I lead, with no doubt, a team. My arguments in support of my comment like following (Forsyth, 2006):

Ä The collection of the members to conduct the operations of the project leaded by is formed to achieve the pre-organized & specific common purpose top increase sales with the combined efforts from the all members.

Ä If the joint effort of the members of my team becomes successful or failed, the responsibility will not touch a member individually. The members of the project are not responsible personally to accomplish the objective.

Ä The outcomes of the operation of my project are shared among the members. On the other hand, the success failure will be distributed among all the members and the whole team will be responsible for the failure and success of the efforts jointly.

Ä The members of the project are highly motivated to co-operate the other members as they know their personal performance is fully dependent on the joint efforts.

Additionally, my project member works as the group of people who are arranged to achieve the common purpose to increase the sales within the store to prevent the sales fallowing as well as to sales increase. In my project, the tasks are highly interdependent and complex to be performed (Davis, 2009).

From the above discussion, it is clear to us that the members of the project work as the team not as the group.

Element-2

The relationships between members of the team:  Relation is the extent in which people interact with others for their personal interested goal achievement. In team, the relation is that extent based on which the team members interact to co-operate each other to achieve their personal or combined team objectives (Devine, 2002). 

Relational dimension within a team:

As the project manager as well as the team leader, I require having the knowledge about the relational dimension within a team. I will divide the relational dimension within three categories like following:

Positive relation: The positive relational dimension among team members refers to that highly constructive, co-operative & communicative relation within the team members to perform their responsibilities to achieve the joint objective of the team. There are three categories of positive relational dimensions like: Good relation, the minimum normal and habitual constructive relationship within the members of the team to perform their roles, better relation, and the more constructive trend of the relationships among the team members (Devine, 2002).

Negative relation: The negative relational dimension among team members refers to that destructive, non-co-operative & less-communicative relation within the team members to perform their responsibilities to achieve the joint objective of the team. There are three categories of negative relational dimensions like: Bad relation, the minimum normal and habitual negative relationship within the members of the team to perform their roles, worse relation, the relationships with more destructive trend among the team members (Wheelan, 2010).  

Neutral relationship: In the team, the neutral relation refers to the immoveable & unproductive relationship among the members. But the neutral relationship doesn’t include any destructive and constructive relationship. It shows that situation where no members of the team actively go for co-operation or destruction. It refers just the resentment which makes the goal achievement process of the team impossible. 

Relational dimension within my team:

My project team is consists of ten members in the different position of my team. They have different roles with a particular boundary. The success of the project for increasing sales is highly dependent on the joint efforts of the members. For that reason as the team leader, I always try to keep maximum extent of good relationship among the team members to do their job. On the light of the discussion about my team, I can strongly comment that the relationship which exists among the team members of my project is HIGHLY POSITIVE or BEST RELATIONSHIP (Devine, 2002).

Success factors of my project team:

In the current time, the performance report of the store shows the high increase in sales volume is made. The active contribution for that was made by my project team members to increase sales through ensuring joint efforts. The successful joint effort was possible within my team for the existence of the following success factors (Wheelan, 2010):

Clarity of communication: I as the project manager, try to ensure the best level of clarity of communication as without the clear communication among the team members, the joint effor for success cannot be made.

Clarity of goal: The project introduced for what, what are the goals and objectives of the project are clearly defined to the all members of the project team.

Clarity of roles: The project members as the member of an integral team body have specified roles and duties to perform.

Balanced participation: through the maintenance of the better relationships, as the project manager, I have made a highly communicative workforce for the project management which ensured the balanced participations of the team members in the joint team effort.

Conflict within team& reason for conflict:

When the different members of the team with significant difference between needs, ideas, beliefs, values, or goals of them are in struggle to have the same resources or the rights will be defined as the conflict. The reasons for the conflict within the team is to fight for same resources, difference of views regarding the same matter among several people, limited opportunity for the team members (Lambert, Myers, 1999).

Conflict incident in my team:

In my team, there was a significant incident of conflict occurred few days ago.  The source of the conflict was only photocopy machine used by the two members of my project team. The fight was for the position of the machine. (Lambert, Myers, 1999).

At last I made the negotiation for resolving the conflict. I called them both & listened to them. After that I placed the machine in the middle between the two desks of the team members. 

I was very much horrible as this conflict made them stopped to work & for that reason in the total system, there were a bottleneck problem. The productivity of the team drastically downed for that incident for few days (Lambert, Myers, 1999).

Element-3

Team interaction with my project:

The interactions within a team follow a specified way of flow. The flow of team interactions are basically in three types. These are downward interaction where the flow of interaction flows from the top level to lower level. Next is upward interaction where the interaction of the team flows from the lower level to upper level.  The last one is the lateral interaction where the interaction flows in a flattened structure (Wheelan, 2010).

 In my team the team interaction flow is designed in the way that the interactions flow within a centralized stricture which can be referred as the lateral structure of interactions. In my team, any members can interact with any members in every stage that is required to be communicated to resolve the problem or making the team effort successful to achieve project objective (Ale Ebrahim, Ahmed, Taha, 2009).

Self assessment:

As the leader of the project team, my interactions with the other members of the team is must to combine the individual efforts of the team to make the successful team effort. This will be determined with my individual characteristics & the capacity to lead (Algert, 2006).

Now I will make an assessment to outline the success & failure of me as the team leader. It will help me to make the recommendations to improve my skills as the team leader.

My attitude toward the people who work in my team is positive. I feel the member of my team always perfect to do the job which is requires achieving the team objectives. My value toward the work is that well established procedure should be followed accurately to achieve the project objectives. I like to follow collaborating approach to work avoiding the emphasizing on the personal gain. Sometimes I fail to communicate with the members within a stressful situation.

Ability to work with other members is very high in a word. As a team leader my team role is to co-ordinate the efforts of all the members to make a fruitful team effort to achieve team objectives and the goals (Algert, 2006).

Based on the above findings, I will make further planning for the development of the skills and capability of myself.

Theories related to my understanding:

For the successful team management to achieve the project or organizational objective there is no alternative but efficient leadership on the project or organization was the central understanding of the previous part. It is possible to dream the successful outcome from the team efforts without proper leadership (Tuckman, 2002). The job design, team building and development of the team members are the important factors for the successful leadership practices (Adair, 1966). With the capacity to collect people, the successful leadership will also include the proper use, development & co-ordination of the skills of remembers are require to achieve team objectives (Palmer, 1965). Clear objective & approaches accountability & successful co-operations can make the better result in the team (Katzenbach & Smith, 1993). Goal orientation will be the most effective weapon for the goal achievement (Lewin, 1948).

My interaction with team members:

In the process of the interaction with team members, three types of common interaction are available. First: the positive interactions which enable the team leader to make constructive communication and co-operation with the team members. Second: negative interaction which recognize the leader oppressors to the team members to deal with them. At last: the neutral interaction means the interactions which makes no influence over the team members as there are no influencing or controlling taken by the leader to control the team member’s actions.

In case of me, to control the team and to deal with the team members I am quite deliberate to deal with the team members. So I can recognize me as the positive team leaderI, to perform the team work, welcome active the participation of the team members to contribute in the team decision. So, here I will declare myself as the tram player not loaner. 

Element-4

My uniqueness in the leading the project:

To lead a team successfully, it is important for every leader to make the unique & special approach to deal with his/her team as the objective, demand, success factors and aspect of all team are not same. On the other hand, in highly competitive global market, to be sustained, there is no alternative to deal with the team strategically to exert the best efforts of the team members to achieve the team objective. I am in the project to grow the sales within my store with the help of team efforts; I require handling my team strategically. My specialty in my leadership as the project manager is that I consider the team members as the integral part of the entire project body not my subordinate. I follow the co-operative style to enable the participation of my team members. Not only that but also it highly motivate my members. I avoid being to practice dictatorship as i want to be deliberate to handle my team. I feel more learning from the member provide me the best options for the development and effectiveness of my team (Algert, 2006).

My performance:

To lead my team I was quite successful. The project objectives were to have the increased sales volume & to prevent the losing trend in sales in the store. Our team was hungry produce the significant growth in sales though preventing the losing trends in sales. From the analysis of our team performance to increase, I can recommend that we touched the target point. The recent report says that the sales volume of the store has significantly increased.

Behind this success, there is a systematic approach was taken by me. I analyse the current situation. Focusing the findings I set a standard for achieving the targeted sales. I make the team with the participation of the best people from the sales department and trained them to be perfect in achieving the goals of the project. I coordinate the efforts of the members of the team. At last the findings are compared with performance standard. If there is any visible dispersion, I will take the necessary steps to redeem it. In this way I managed the change (Raudsepp, 2002).

Recommendations to develop myself:

In dealing the team, I am quite successful. But there are some opportunities to maximize the success of my team. For that I have to make myself enable to support the more strategic approaches to lead my team. I am not with the adequate skills to exert the best effort my team still now. My leadership skills require some developments steps. The recommendations will be following to enhance my leadership skills (Raudsepp, 2002):

In my team, my image is highly easy going which sometimes makes my team members to disobey my orders & wants more relaxation. This is a big treat to have the better performance. For that reason, I have to improve my controlling skill as the team leader.

One major problem in my leadership skill is that I am highly process oriented. This process orientation sometimes makes my team members less productive and less innovative. For achievement of the project objective, I require to be target oriented which will enable me to produce high productivity & high innovation within my team. It will ensure the maximum utilization of the capacity of the members.

Conclusion:

In this assignment, I have made an analysis on the current business current changed business situation. I have find out that how the team and group within the current business situation contributing to achieve the business success. I have shown the difference team and group, their aspects & their suitability. I have recognized my team as the team. Based on the analysis I have traced out the success of me as the team leader as well as the project success. I have analysed my level of capacity as a leader. Based on the analysis I have made recommendation about where & how I will make the development.