DOCSLIB.ORG

Realty-Income-2021-Proxy-Statement.Pdf

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Realty-Income-2021-Proxy-Statement.Pdf REALTY INCOME BUILDING GROWTH BY DESIGN 2021 PROXY REPORT l April 1, 2021 Dear Stockholder: You are cordially invited to attend our 2021Annual Meeting of Stockholders (the ‘‘Annual Meeting’’) to be held at 9:00 a.m., Pacific Time on May 18, 2021. Due to the ongoing public health impact of the coronavirus pandemic (COVID-19), and to support the health and well-being of our partners and stockholders, this year’s Annual Meeting will again be a completely virtual meeting of stockholders, conducted via live audio webcast. The virtual format provides the opportunity for participation by a broader group of our stockholders and enables stockholders to participate fully, and equally, from any location around the world, at little to no cost. You can attend the Annual Meeting via the Internet at www.virtualshareholdermeeting.com/realty2021 by using the control number which appears on your proxy card and the instructions provided as a part of your Proxy Materials. You may submit questions in advance of and in real-time during theAnnual Meeting via the meeting website.The business that will be conducted at theAnnual Meeting is described in the Notice of the 2021Annual Meeting of Stockholders and Proxy Statement. During 2020, we grewAdjusted Funds From Operations (AFFO) per share, or the cash earnings available to pay dividends to our stockholders, by 2.1% to $3.39. As The Monthly Dividend Company®, we remain committed to providing our stockholders with dependable monthly dividends that increase over time. During 2020, we paid twelve monthly dividends and increased the dividend per share by 3.1% over 2019 to $2.794. I would like to thank our team for their continued focus on our strategic objectives with our One Team approach together with hard work and dedication during these unprecedented times. I am also extremely thankful for our Board of Directors continued support, vast experience and guidance for today and our future. We are excited about the current position of the company and remain committed to continuing to responsibly manage your company as prudent stewards of your capital. In connection with our 2021 Proxy Statement, we have issued our inaugural Sustainability Report which provides detail on our environmental, social and governance (‘‘ESG’’) initiatives. The Sustainability Report can be found in the Corporate Responsibility section of our corporate website, and I encourage you to read the Sustainability Report to understand the significant emphasisweplaceonESGinitiativesforthecommunitieswe serve, the environment and our future. We encourage you to review the information contained in the Proxy Statement. It is meant to provide an overview of our company’s achievements during the year, including information on our company’s compensation program and corporate governance practices. After your review, we hope that you will vote, in person virtually or by proxy, in accordance with the Board of Directors’ recommendations. Your vote is important to us and we appreciate your continued support of our company. Sincerely, Sumit Roy President, Chief Executive Officer Member, Board of Directors Notice of the 2021 Annual Meeting of Stockholders NOTICE IS HEREBYGIVEN that the 2021Annual Meeting of Stockholders (the ‘‘Annual Meeting’’) of Realty Income Corporation, a Maryland corporation (the ‘‘company’’), will be held as follows: MEETING DATE: Tuesday, May 18, 2021 MEETING TIME: 9:00 a.m. Pacific Time VIRTUAL MEETING ACCESS: www.virtualshareholdermeeting.com/realty2021 RECORD DATE: You may vote if you were a holder of record of shares of our common stock, par value $0.01 per share, at the close of business on March 12, 2021. ITEMS OF BUSINESS: 1. The election of nine director nominees named in this Proxy Statement to serve until the 2022 annual meeting of stockholders and until their respective successors are duly elected and qualified. 2. The ratification of the appointment of KPMG LLP as our independent registered public accounting firm for the year ending December 31, 2021. 3. A non-binding advisory proposal to approve the compensation of our named executive officers as described in this Proxy Statement. 4. The approval of the Realty Income Corporation 2021 Incentive Award Plan. 5. The transaction of such other business as may properly come before the Annual Meeting or any postponement or adjournment of the Annual Meeting. The Proxy Statement following this Notice describes these matters in detail. We have not received notice of any other proposals to be presented at theAnnual Meeting. During theAnnual Meeting, management will report on the current activities of the company and comment on its future plans. A discussion period is planned so that stockholders will have an opportunity to ask questions and make appropriate comments. All presentation materials shared at the Annual Meeting will be made available on the company’s website at www.realtyincome.com/investors/financial-information/annual-reports-and-proxy. PROXY VOTING: Your vote is important. Whether or not you plan to participate in our virtual Annual Meeting, we urge you to submit your proxy as soon as possible to ensure your shares are represented and voted at ourAnnual Meeting.You may authorize a proxy to vote your shares by telephone, via the Internet, or – if you have received and/or requested paper copies of our Proxy Materials by mail – by signing, dating and returning the proxy card in the envelope provided. If you participate in our virtualAnnual Meeting, you may, if you wish, vote your shares (or withdraw your proxy) at www.virtualshareholdermeeting.com/realty2021. No person is authorized to make any representation with respect to the matters described in this Proxy Statement other than those contained herein and, if given or made, such information or representation must not be relied upon as having been authorized by us or any other person. You are encouraged to read this Proxy Statement in its entirety before voting or authorizing a proxy to vote on your behalf. By Order of the Board of Directors, Michelle Bushore Executive Vice President, Chief Legal Officer, General Counsel and Secretary April 1, 2021 Table of Contents Proxy Summary................................... 1 Potential Payments upon Termination or Change in Control.......................... 64 Proposals ............................................ 10 Termination and Change in Control Proposal 1 – Election of Directors.............. 10 Scenario Table .............................. 67 Proposal 2 – Ratification of Appointment of CEO Pay Ratio .................................... 69 Independent Registered Public Accounting Firm............................ 10 Delinquent Section 16(a) Reports........... 70 Proposal 3 – Advisory Vote to Approve the Related Party Transactions ................... 70 Compensation of Our Named Executive Officers....................................... 11 Security Ownership of Certain Proposal 4 – Approval of the Realty Income Beneficial Owners and Management... 71 Corporation 2021 Incentive Award Plan........................................... 12 Equity Compensation Plan Information as of December 31, 2020 .................... 72 Board of Directors and Corporate Governance...................................... 20 Audit Related Matters .......................... 73 Director Nominees................................ 20 Fees Paid to Independent Registered Public Committees of the Board ........................ 25 Accounting Firm............................ 73 Corporate Governance............................ 28 Pre-approval Policies and Procedures.......... 73 Director Selection Process....................... 29 Audit Committee Report......................... 74 Board Independence.............................. 31 Frequently Asked Questions.................. 75 Non-Executive Independent Chairman of the Board......................................... 32 Stockholder Proposals for our 2022 Annual Meeting Board Role in Risk Oversight................... 32 ................................ 79 Compensation RiskAssessment ................ 32 Forward-Looking Statements................ 79 Meetings andAttendance ........................ 33 Householding of Proxy Materials Communications with the Board................ 33 ........... 80 Incorporation by Reference Director Compensation......................... 34 ................... 80 Information about our Executive Appendix A ......................................... 81 Officers ........................................... 36 Appendix B ......................................... 83 Executive Compensation....................... 38 Compensation Discussion andAnalysis ....... 38 Executive Summary............................ 38 Compensation Process ........................ 40 Elements of Compensation ................... 43 Tax Considerations ............................ 58 Compensation Committee Report .............. 59 Compensation Tables............................. 60 Summary Compensation Table............... 60 Grants of Plan-Based Awards Table ........ 62 Outstanding Equity Awards Table as of December 31, 2020......................... 63 Stock Vested During 2020 Table ............. 64 No Pension Benefits or Nonqualified Deferred Compensation ................... 64 Proxy Summary MEETING DATE: Tuesday, May 18, 2021 MEETING TIME: 9:00 a.m. Pacific Time VIRTUAL MEETING ACCESS: www.virtualshareholdermeeting.com/realty2021 RECORD DATE: March 12, 2021 The Board of Directors (or, the ‘‘Board’’) of Realty Income Corporation, a Maryland corporation (the ‘‘company’’),
Load more

Recommended publications
  • The View from the Top Mark Cuban Talks Adapting to a COVID-19 World, Diversity and Inclusion, and More
    An Equilar publication Issue 34, Fall 2020 The View From the Top Mark Cuban talks adapting to a COVID-19 world, diversity and inclusion, and more FEATURING CEO Pay by U.S. President & Interview with Shellye Archambeau Issue 34 Critical governance issues post-pandemic The rising role of General Counsel Fall 2020 Demystifying data science for board members Setting incentives in uncertain times How CEO pay ratios affect Say on Pay Executive equity awards and the pandemic 36 ASK THE EXPERTS commentary on current topics Lessons Learned What will be the most critical governance issues companies must address post-pandemic? golibtolibov/gettyimages.com 37 Navigating the COVID-19 pandemic has created profound and unique ROBERT BARBETTI challenges for public and private companies. But it’s also an opportunity to Global Head of Executive solidify current corporate governance and create important new policies. Compensation and Benefits Boards and senior management should consider the following as part of good J.P. MORGAN corporate governance, not only in the context of an unprecedented global PRIVATE BANK pandemic, but in any business environment. Ensure communication systems are solid. Understanding the impact COVID-19 has on business operations and suppliers is critical, but Robert Barbetti, Managing Director, is the communicating that understanding to teams is just as important. There are Global Head of Executive Compensation now many new federal and state regulations in place that must be considered and Benefits at J.P. Morgan Private as companies create their policies to mitigate risk and stay compliant. Bank. As a senior member of the Private Management should stay abreast of updated crisis policies, disaster Bank’s Advice Lab, Mr.
    [Show full text]
  • Experimenting Team-Building Strategies in an Innovative Nexus Learning Capstone Course
    Experimenting Team-Building Strategies in an Innovative Nexus Learning Capstone Course Gulbin Ozcan-Deniz, Ph.D, LEED AP BD+C, [email protected] Assistant Professor, College of Architecture and the Built Environment, Philadelphia University, Philadelphia, PA Agenda Motivation and Primary Goals Re-design Steps of Capstone Sample Team-building Activities Problem-solving in a Team Student Assessment Results Digital Tools for Collaboration Conclusions Motivation and Primary Goals Research Primary Goals Motivation the need for a experiment with stimulate peer and collaborative team-building and team-based capstone course in collaborative learning many disciplines working problems Ozcan Deniz, G. (2016), Innovative Nexus Learning Capstone Experience for Construction Management Students, Philadelphia University Nexus Learning Grant Proposal, 2016-2017. Motivation and Primary Goals Specific Project Goals To understand the background, To determine the characteristics, To determine which impact of collaborative processes, and digital tools enables learning on preparing dynamics that collaboration within and presenting an contribute to team- teams actual bid package to working and team- external parties success in construction Re-design Steps of Capstone Revise learning outcomes Design an active Create an hybrid teaching database of course delivery team-building and module by using team-work activities Blackboard Prepare start-of-semester, mid- Run the revised course semester and end-semester Analyze survey results with a group of pilot surveys to analyze team- and update course students and collect building and collaborative material as needed feedback working problems faced by Capstone students Sample Team-building Activities 3-truths and a lie Which team player style are you? Contributor Challenger Collaborator Communicator Parker, G.M.
    [Show full text]
  • BENDING the CHAIN the Surprising Challenge of Integrating Purchasing and Logistics
    BENDING THE CHAIN The Surprising Challenge of Integrating Purchasing and Logistics A REPORT BY THE SUPPLY CHAIN MANAGEMENT FACULTY AT THE UNIVERSITY OF TENNESSEE SPRING 2014 NUMBER TWO IN THE SERIES | GAME-CHANGING TRENDS IN SUPPLY CHAIN The Surprising Challenge of Integrating Purchasing and Logistics IN A CH E TH ING BEND TABLE OF CONTENTS Executive Summary 2 The Surprising Challenge of Integrating Purchasing and Logistics 5 The Research: Linking Purchasing and Logistics Integration to Improved Functional and Financial Performance 10 Best Practices 19 7 Actions a Supply Chain Leader Can TakeToday 26 How High Is Your PLi? 28 2 BENDING THE CHAIN GAME-CHANGING TRENDS IN SUPPLY CHAIN BENDING THE CHAIN: THE SURPRISING CHALLENGE OF INTEGRATING PURCHASING AND LOGISTICS A REPORT BY THE SUPPLY CHAIN MANAGEMENT FACULTY AT THE UNIVERSITY OF TENNESSEE SPRING 2014 CONTRIBUTORS: THEODORE (TED) STANK, PhD J. PAUL DITTMANN, PhD CHAD AUTRY, PhD KENNETH J. PETERSEN, PhD MIKE BURNETTE DANIEL PELLATHY, PhD CANDIDATE IN A H C HE T ING BEND Executive Summary ver the last several decades, supply chain (SC) profes- sionals have focused on performance issues that have emerged from a lack of commercial/business alignment with supply chain operations. Significant improvements have been made, and systemic processes (IBP—integrated business planning—and S&OP—sales and operations planning) have been Odeveloped to drive a fully integrated business. As business integration has continued to improve, the biggest SC opportunities have shifted. Every year, the University of Tennessee’s Global Supply Chain Institute networks with hundreds of companies, requesting information on emerging supply chain issues.
    [Show full text]
  • Organizational Change and Development Chapter 12
    Organizational Change and Development Chapter 12 ORGANIZATIONAL CHANGE AND DEVELOPMENT Introduction Change is a constant, a thread woven into the fabric of our personal and professional lives. Change occurs within our world and beyond -- in national and international events, in the physical environment, in the way organizations are structured and conduct their business, in political and socioeconomic problems and solutions, and in societal norms and values. As the world becomes more complex and increasingly interrelated, changes seemingly far away affect us. Thus, change may sometimes appear to occur frequently and randomly. We are slowly becoming aware of how connected we are to one another and to our world. Organizations must also be cognizant of their holistic nature and of the ways their members affect one another. The incredible amount of change has forced individuals and organizations to see “the big picture” and to be aware of how events affect them and vice versa. Organizational development (OD) is a field of study that addresses change and how it affects organizations and the individuals within those organizations. Effective organizational development can assist organizations and individuals to cope with change. Strategies can be developed to introduce planned change, such as team-building efforts, to improve organizational functioning. While change is a “given,” there are a number of ways to deal with change -- some useful, some not. Organizational development assists organizations in coping with the turbulent environment, both internally and externally, frequently doing so by introducing planned change efforts. Organizational development is a relatively new area of interest for business and the professions. While the professional development of individuals has been accepted and fostered by a number of organizations for some time, there is still ambiguity surrounding the term organizational development.
    [Show full text]
  • Power Phrases to Build Your Resume
    POWER PHRASES TO BUILD YOUR RESUME . Avoid burdening management with administrative ACCURACY detail . Effectively use exception reporting to keep . Recognize the importance of accuracy management informed. Perform with a high degree of accuracy . Clearly establish administrative rules and regulations . Perform with consistent accuracy . Enumerate and specify procedures for implementing . Achieve results with accuracy and precision and administering written policies . Maintain high statistical accuracy . Develop policies and procedure to improve . Expect perfection department. Strive for perfection . Improve administrative support systems . Excel in achieving perfection . Supply necessary support services . Avoid mistakes and errors . Develop successful administrative strategies . Conform to strict tolerances . Excel in simplifying systems and reducing paperwork . Meet precise standards . Excel in eliminating unnecessary paperwork . Meet rigid specifications . Effectively control paperwork. Keep accurate records . Manage paperwork efficiently and effectively . Maintain accurate documentation . Improve administrative efficiency through the . Provide explicit documentation effective use of forms . Meticulous with detail . Establish effective systems for record retention . Excel in detail checking . Keep simple records with little duplication . Forecast with extreme accuracy . Effectively handle information overload . Make accurate predictions about future trends, . Establish effective systems for information retrieval directions and developments.
    [Show full text]
  • Managing Design with the Effective Use of Communication Media: the Relationship Between Design Dialogues and Design Team Meetings
    1072 CIB World Building Congress 2007 CIB2007- 213 Managing Design With The Effective Use Of Communication Media: The Relationship Between Design Dialogues And Design Team Meetings Stephen Emmitt and Ad den Otter ABSTRACT Effective and efficient design team communication is an essential component of architectural design and construction projects. Face-to-face communication, via meetings and dialogue, is an essential means for design team members to discuss and communicate design ideas. Meetings represent an important forum in which all parties have an opportunity to understand the implications of design decisions on a number of levels. Dialogue between design team members forms an important part of the interpersonal communication that occurs during design development. Dialogues have the highest chance of achieving understanding of the design, especially in the early phases when uncertainty is high and less design information is generated compared with later stages in the project. A survey of communication practices via project websites across multiple cases found that design team members chose dialogues as their preferred communication medium. The results are discussed against research findings from communication in design and management team meetings. The relationship between dialogues and team meetings is then explored from a design team management perspective. The results have implications for the effectiveness of communications within international design teams and hence the manner in which communications are planned and managed. Keywords: Design management, Team communication, Dialogues, Interaction, Meetings, Project Websites. CIB World Building Congress 2007 1073 1. INTRODUCTION Architectural design is a collaborative act that relies on effective interaction between project actors and stakeholders. Interaction affects the strength of relationships between the actors and ultimately colors their ability to work together successfully.
    [Show full text]
  • Global Supply Chain Management 1
    Global Supply Chain Management 1 Global Supply Chain Management Certificate in Global Supply Chain Management The Certificate in GSCM is an option for domestic and international candidates who need to gain or upgrade their supply chain management skills to meet current market demands as well as prepare for the American Production and Inventory Control Society (APICS) certification. This Certificate program is suitable for those students who have obtained a Bachelor’s degree and are interested in managing or working in various aspects of the global supply chain. The program will prepare students to optimize and support the business, as well as design innovative operating models and cost reduction strategies. Required Course GSCM 504 Fund Global Supply Chain Mgmt 3 Take 12 Credits from the following: GSCM 580 Global Strategic Sourcing 3 GSCM 581 Managing Global Production/Operation 3 GSCM 582 Total Quality and Service Management 3 GSCM 583 Logistics and International Trade 3 GSCM 584 Supply Chain Strategies Planning 3 Courses GSCM 504. Fund Global Supply Chain Mgmt. (3). This course provides basic definitions and concepts for planning and controlling the flow of materials into, through and out of an organization. It explains fundamental relationships among the activities that occur in the supply chain from suppliers to customers. In addition, the course addresses types of manufacturing systems, forecasting, master planning, material requirements planning, capacity management, production activity control, purchasing, inventory management, distribution, quality management, and Lean manufacturing. The basic concepts in managing the complete flow of materials in a supply chain from suppliers to customers are covered in this basics module.
    [Show full text]
  • Leader's Guide to Team Building
    Leader’s Guide to Team Building Building Adaptive High-Performance Teams DIGITAL VERSION AVAILABLE A digital version of this CALL publication is available to view, download, or reproduce from the CALL restricted website, <https://call2.army.mil>. Reproduction of this publication is welcomed and highly encouraged. Common Access Card (CAC) or Army Knowledge Online (AKO) login is required to access the digital version. Editor’s Note: This product was previously titled, “Teams of Leaders Coaching Guide: Building Adaptive, High-Performing Interagency Team.” This Leader’s Guide is an updated, redated version of the June 2009 edition (Volume 2), European Command. LEADER'S GUIDE TO TEAM BUILDING Foreword The Leader’s Guide to Team Building handbook provides lessons and best practices (“a way”) to rapidly build and effectively employ cross-boundary teams that are highly competent both in making and executing decisions and in learning and adapting together. It helps the team gain common understanding of the situation and requirements and quickly reach a higher level of performance. This approach provides a deliberate methodology for forming, launching, operating, and sustaining nested teams and developing member’s capacity to work at higher performance levels. It also furnishes a set of practical thinking drills and orgainizing tools that applies and balances three key elements: information management, knowledge management, and team qualities, which boosts team communication and collaboration skills. Through coached deliberate practice and performance, it systematically builds relationships on a basis of shared purpose, trust, confidence, and competence. Chapter 3 contains useful tip sheets that leaders and team members can pull out as quick reference tools to enable effective team building and enhance effectiveness for diverse, challenging mission sets across a wide range of operational environments.
    [Show full text]
  • Team Building for Managers
    Team Building for Managers Atlantic Speakers Bureau and Human Skills Development 980 Route 730, Scotch Ridge NB Canada E3L 5L2 or P.O. Box 55 Calais, ME USA 04619 1-506-465-0990 FAX: 1-506-465-0813 [email protected] [email protected] Atlantic Speakers Bureau and Human Skills Development Student Training Manual Training Materials Atlantic Speakers Bureau and Human Skills Development TABLE OF CONTENTS Module One: Getting Started ........................................................................................................... 10 Workshop Objectives .............................................................................................................................. 10 Module Two: What Are the Benefits of Team Building? .................................................................... 11 Better Communication and Conflict Resolution ...................................................................................... 11 Effectiveness ........................................................................................................................................... 12 Motivation .............................................................................................................................................. 12 Camaraderie ........................................................................................................................................... 12 Case Study ..............................................................................................................................................
    [Show full text]
  • Teams, Team Process, and Team Building
    Loyola University Chicago Loyola eCommons School of Business: Faculty Publications and Other Works Faculty Publications 2014 Teams, Team Process, and Team Building James W. Bishop Dow Scott Loyola University Chicago, [email protected] Stephanie Maynard-Patrick Lei Wang Follow this and additional works at: https://ecommons.luc.edu/business_facpubs Part of the Business Administration, Management, and Operations Commons, and the Performance Management Commons Recommended Citation Bishop, James W.; Scott, Dow; Maynard-Patrick, Stephanie; and Wang, Lei. Teams, Team Process, and Team Building. Clinical Laboratory Management, 2nd Edition, , : 373-391, 2014. Retrieved from Loyola eCommons, School of Business: Faculty Publications and Other Works, http://dx.doi.org/10.1128/ 9781555817282.ch18 This Book Chapter is brought to you for free and open access by the Faculty Publications at Loyola eCommons. It has been accepted for inclusion in School of Business: Faculty Publications and Other Works by an authorized administrator of Loyola eCommons. For more information, please contact [email protected]. This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 License. © ASM Press 2014 18 Introduction Teams, Team Process, Definition of a Team Distinguishing Teams from Work Groups • Types and Classifications of Teams • Why Define a “Team” So and Team Building Precisely? Group Process and Teams James W. Bishop, K. Dow Scott, Guidelines for Choosing Whether To Have Teams Stephanie Maynard-Patrick, and Lei Wang Common
    [Show full text]
  • Key Elements to an Effective Building Design Team
    Available online at www.sciencedirect.com ScienceDirect Procedia Computer Science 64 ( 2015 ) 838 – 843 Conference on ENTERprise Information Systems / International Conference on Project MANagement / Conference on Health and Social Care Information Systems and Technologies, CENTERIS / ProjMAN / HCist 2015 October 7-9, 2015 Key elements to an effective building design team Fredrik Svalestuena,b*, Kristoffer Frøystadb, Frode Drevlanda,Saad Ahmada, Jardar Lohnea, Ola Lædrea aDepartment of Civil and Transport Engineering,The Norwegian University of Technology and Science, NO 7491 Trondheim, Norway. bVeidekke Entreprenør AS, P.O.Box 506 Skøyen, N-0214 Oslo, Norway. Abstract The building design phase requires intense collaboration between the participants. However, achieving this can prove difficult. The project often has a short time span, at the same time as the participants have limited experience from working together. This paper reports on the experience with teambuilding and collaboration from several Norwegian building design participants. The ambition has been to find out what characterizes a highly efficient building design team. In addition to a literature review and interviews with five key participants, a survey in a large Norwegian contractor firm was carried out. The findings identify twelve key elements that influence the performance of a building design team. The three most important elements are good collaboration between all project leaders, identifying the design team members’ role and trust between the team members, respectively. Having a highly efficient team is important for the collaboration between participants in the building design phase, and knowing what elements that influence the performance can help the industry to develop design teams on their projects.
    [Show full text]
  • Towards Effective Team Building in the Workplace
    International Journal of Education and Research Vol. 1 No. 4 April 2013 Towards Effective Team Building in the Workplace Fapohunda, Tinuke. M. Department of Industrial Relations and Public Administration Lagos State University Ojo. Nigeria E mail: [email protected] Abstract Team building involves a wide range of activities, designed for improving team performance. Its aim is to bring out the best in a team to ensure self development, positive communication, leadership skills and the ability to work closely together as a team to problem solve. This article reviews current literature on teams in an attempt to outline some of the attractions and challenges of implementing teams so as to give a realistic preview of what can be achieved through teamwork. The literature indicates that the effects of teamwork (both positive and negative) are contingent upon many factors, including the organizations’ culture and climate, effectiveness of team leadership, employee commitment, the system of compensation and rewards, and the level of employee autonomy. This article outlines eight key points that have been identified by a number of authors which facilitate the effective development of teams. These points are: clear goals; decision making authority; accountability and responsibility; effective leadership; training and development; provision of resources; organizational support; and rewards for team success. Keywords: Effective, Team, Building, Workplace 1. Introduction Team building is an important topic in the current business climate as organizations are looking to team-based structures to stimulate further improvements to their productivity, profitability and service quality. Managers and organization members universally explore ways to improve business results and profitability. Many view team-based, horizontal, structures as the best design for involving all employees in creating business success.
    [Show full text]