Global Team Management: An Essential Component of Firms' Innovation Strategy

Abstract

ABSTRACT In the world marketplace some firms compete successfully and others fail to gain global competitive advantage. Some researchers argue that innovation strategy is the answer to successfully meeting today's and tomorrow's global business challenges. An important aspect of the innovation strategy is managing global teams effectively. Thus, firms of tomorrow will be characterized by values such as teamwork, innovation, cultural diversity, and a global mindset. The rapid globalization of business, and increasing competition will continue to drive the need for effective teamwork and/in innovation management. The purpose of our research is to gain insight into global team management and its role as a major component of innovation strategy. We discuss the changing and developing functions of teamwork, examine the characteristics of global teams, and finally offer a process to achieve effective global team management.