The stage III of a business is characterized by 20 to 34 employees. As the business enters into this stage, they encounter a whole new set of challenges that require a different approach than they adopted in stage II. While financial strategies and market analysis are eternal and critical anchors for a business, the true driving force behind sustained success in this stage lies in the synergy of people who make up the organization. This is the phase where a strong focus on teamwork and conflict management are the additional skills an entrepreneur needs to develop, apart from emotional self-awareness and achievement orientation, to achieve unprecedented growth.
Successful teams leverage the diverse strengths of their members, ensuring that each person's unique talents contribute to collective success. Effective teamwork fosters an environment of trust, mutual support, and open communication.
However, the increased number of employees leads to complexity which in turn gives rise to conflicts among team members or departments. Effective conflict management is critical to ensure that disagreements do not impede progress. Leaders who excel in conflict resolution demonstrate active listening, empathy, and a commitment to finding win-win solutions. By addressing conflicts promptly and constructively, organizations can maintain a harmonious work environment where creativity thrives, and teamwork flourishes.
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