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By Alisa Johnson

When working with a group of people toward a long-term goal, it is important to have a system in place that ensures success, compatibility, and a positive working environment.  In order to achieve this end, it is necessary to have several different aspects of team dynamics covered from the very inception of the team itself in order to achieve optimal results.  Keep reading to learn about five essential aspects of productive teams. 

Established Roles

It is important from the outset of a project for roles with in the team to be established.  This is usually covered in the application and interview process, but should be covered with the entire team together for clarification purposes.  While you don’t want to stifle members of the team who may have great ideas, it is also important that there are not “too many cooks in the kitchen.” 

Communication

Communication should be open to all and round tables need to be held regularly to make sure that communication stays open.  Regular emails, use of a list server, or other methods should be employed to keep all pertinent information available and ready for dissemination within the team at all times.  The effectiveness of your team can be compromised without superior communication.

Accountability

Although this goes along somewhat with having established roles, a system of accountability must be in place within your team.  If a certain aspect of the project is unable to move forward, the reason needs to be recognized and rectified as soon as possible.  Accountability and transparency in all phases of the project will help ensure that you are ultimately successful.

Mutual Respect

While the roles have been defined, someone within the team may have an idea that could streamline the process, saving time, energy, and money.  In an environment of mutual respect, this can go one freely and easily.  Everyone on your team is a professional and has been selected for their ability to contribute to the overall success of the project in question.  Give them the respect they deserve and you should expect the same in return.

Checkpoints

Another very important aspect of a productive project team is having set checkpoints to make sure that things are working efficiently.  These points within the project give the team an opportunity to work out kinks and any obstacles that may undermine the end result.  Checkpoints should be spaced out far enough that they are not intrusive, but shouldn’t allow time for major mistakes to be missed.  Balancing out between the two will need to be discussed and planned out depending upon the specifics and nature of the project in question.

By Alisa Johnson

White collar fraud can happen to the largest of corporations or even at mom and pop shops.  Taking steps to prevent white collar fraud can save you lots of time, hassles, and money down the road if you are careful and proactive.  Look further into some of the following suggestions that will help you with the prevention of possible white collar fraud in your business.

Extensive Background Checks

Many companies are getting smart and working hard at being proactive when it comes to white collar fraud.  Often, spotty employment history and references can give clues as to what’s transpired in the past.  Generally, credit checks can weed out potential embezzlers, as can criminal records.  Potential thieves may avoid even trying to get into companies that have stringent policies related to background.

Oversight

Good supervision can often make a huge difference when it comes to white collar fraud in your business.  With good oversight, potential embezzlers realize that they will not be able to pull the wool over your eyes as easily.  This will ultimately work to your advantage in multiple ways – you will either lose the potential embezzler to another company that isn’t as strict, or they will simply not try to steal from you in the first place.  Either way, it’s a win-win scenario for you.

Compliance Guidelines

Creating compliance guidelines for employment goes hand in hand with oversight, as well as a system of checks and balances.  When employees know that their work is being double checked on a regular basis, they will most certainly err on the side of caution.  This will provide you with several fringe benefits, including increased precision and professionalism in the daily routine.

Checks and Balances

Check and balances help bring everything together when it comes to preventing white collar fraud.  Making sure that mechanisms are in place to seek out and eradicate potential inside threats in you business will help you in many ways, both now and down the line.  Make sure that policies and procedures are in place to ensure maximum efficiency in your system of checks and balances.

White collar fraud can be a big problem if steps aren’t taken to prevent its occurrence early on.  Proactive measures are generally seen as the best way to prevent problems from happening, so make some changes in your operations to ensure that you are bolstered against white collar fraud.

As the economy has shifted in the past few years, so have the ranking systems throughout many business schools around the nation.  Business schools no longer cater exclusively to the future Wall Street executive, but in fact have rearranged their course schedules to cater to the student who must survive the economic downfall of the recession. 

Business school class rankings have now changed so that they reflect the current state of the economy and the potential careers of many business students.  More and more students are finding that lucrative career moves come after taking classes that teach students how to open their own business and maintain profits.  Only a few years ago, this was a little considered endeavor for business school students, but it has now evolved in such a way that it has become the most feasible option for graduates.  As a result, business schools now offer courses that help students become better situated with the shift the economy has taken and possible future careers.

Additionally, the eco-friendly movement has gained serious airplay within many business schools as well, changing rankings at the same time.  These classes teach students how to become more energy efficient in their future careers and help them potentially grow “green” corporations that cut down on their emissions and hopefully pave the way to a more eco-friendly future business professional. 

The days of luxurious business careers are quickly escaping the dreams of many students of business schools, and have been replaced by a more realistic image of the future.  However, this does not mean that they are in a dead-end career move, but simply that they will have to work harder than previously stipulated.  And isn’t that what growing up is all about?  Adapting to change and moving along with it?  While many students have been reluctant to conform to the new idea that business careers will not be as lucrative as they once were, this change still offers a fresh view of creativity to students.  Now, many students will be able to open up a new business that is revolutionary in the field, a bold move that was unprecedented only a few years ago.

As rankings in business schools and business courses fluctuate over the years, the fact that they still allow students to earn a valuable education will never change.  Business degrees remain as valuable as they always were, but are simply applicable to different fields, evolving with the pace of the economy.  

The economy has created a different outlook for many bschool students and graduates.  An industry that once guaranteed graduates a well-paying career has now shut its doors, remaining closed for an indeterminate amount of time.  Therefore, many business majors have been forced to look elsewhere with their business degree, creating a new niche in the business world.
   
Many students have treated the economy and bschool in different ways: some have left the school in pursuit of a less advantageous major that their parents would never have previously let them strive for.  Others have opened up new businesses, combining other degrees with business degrees.  And yet others still wait for a phone call from a potential employer.  Similar to the Great Depression, careers that were once in high demand have now shifted dramatically, leaving many students scrambling for alternate degree options.  Bschool students, however, have only changed the spectrum for the degree, thereby continuing the program while still earning a substantial degree.

Bschool programs have now changed to cater to a new economic outlook, preparing students for all possible scenarios since it is impossible to predict where the economy will be in a few years.  However, students have now been offered the opportunity to become more creative with their majors, combining business degrees with the arts or music, something that was previously difficult to do.  All types of businesses have opened up in recent months, from artsy-furniture outlets to online dress sites that rent users designer dresses for $50.  Students are beginning to look away from a future investment banker position and now are looking toward an uncertain future, but a future that offers a wide array of possibilities. 

For many students, this outlook is depressing, especially if they craved a Wall Street financial position.  However, simply tweaking this future to become more realistic does not mean that your degree will be useless when you graduate.  Rather, we are on the edge of an innovative business era in which students are once again forced to think outside the box and create career niches that were previously unheard of.  Instead of lamenting to ourselves that we will never crawl back to our previous banker position, we should remain optimistic that bschools will arm students with the necessary means to pursue alternative aspects in the business world.

Creating independent businesses may seem to be a risky endeavor, but thus far has proved itself to be the saving grace of the financial crisis.  Many businesses have remained stable despite the rocks from Wall Street because they were not substantially connected to this aspect of business.  Finding a way to prevent future business disasters from occurring is one way we can solidify our economy to better withstand the next financial crisis.  In the meantime, exploring other applicable business options has proven to open doors to a slew of new possibilities for every bschool graduate.