A topic that is close to our collective heart is the self-managed team. A self-managed team is a group of employees that's responsible and accountable for all or most aspects of producing a product or delivering a service, and according to the Houston Chronicle, 80 percent of Fortune 1000 companies use them in some capacity. Self-managed teams are licensed by a senior leader to operate independently and are given the resources necessary to meet pre-determined business objectives. Some of the benefits we've observed are as follows:
One of the reasons workers like startups so much is that being on a smaller team means they have to cut through less red tape in order to do their jobs. Self-managed teams employ the same concept of team ownership (i.e. action can be taken without the extra step of seeking approval within a traditional hierarchy). Less bureaucracy means faster product or service delivery, which equals lower costs and increased profits.
Clarity of Direction
Self-managed teams use regularly scheduled meetings to ensure that members are on the same page in terms of the best way to move forward. They gain consensus on a small scale and then quickly proceed, avoiding problematic situations like receiving conflicting marching orders from different executives and remaining in a holding pattern until some piece of essential communication trickles down the line.