- 10 Marks
Question
The shareholders of GGOH decided that they will at all times maintain four individuals as members of the Board, and the Chairmanship will alternate between the two shareholders every two years. This could be a potential for conflicts between the shareholders.
Required:
How can effective collaboration help them achieve the goals and objectives of GGOH? (10 marks)
Answer
- Teamwork: Working together to solve problems or complete tasks will lead to better decision-making.
- Brainstorming and idea-sharing: Collaboration allows input from all members, leading to innovative solutions.
- Sense of purpose: All board members should align towards the shared goals of GGOH, fostering unity.
- Equality: Treating all shareholders equally encourages open communication and better decision-making.
- Motivation: Collaboration can increase satisfaction among shareholders, leading to greater motivation to achieve the goals of GGOH.
- Knowledge sharing: Pooling knowledge from all board members enhances the decision-making process.
- Improved decision-making: Enhanced knowledge and teamwork result in more informed and effective decisions.
- Improved efficiency: Collaboration boosts efficiency, as tasks are carried out more effectively.
(2 marks per point, up to 5 points = 10 marks)
- Topic: Strategy implementation
- Series: NOV 2020
- Uploader: Dotse