Durango, CO (PRWEB) January 13, 2006
Lore International Institute, in partnership with Dr. Michael Ensley, a leading authority on team development and composition, announce the release of their new TMT™ services, an offering that improves firm financial performance by increasing the effectiveness of its top management team. Based on over 14 years of published, peer-reviewed research and a team database of over 10,000 management teams, Lore’s Top Management Team (TMT™) services enable firms to understand and improve top management teams with a clarity and precision never before available.
One extraordinary result of TMT services is the ability to predict the financial impact of team development initiatives with up to 80% accuracy. Using Lore TMT services, firms can quantify the impact of their investment in teams and track the results. “Lore chose to partner with Dr. Ensley as he has conducted more extensive research in this area than anyone I’ve ever seen and he has the best grasp of team effectiveness of anyone I’ve ever met.” says Dr. Terry Bacon, President and CEO of Lore International Institute. “With the TMT instrument, we can be quite specific about how to improve a team, leveraging it strengths and intervening effectively when teams have development challenges.”
Dr. Ensley’s research demonstrates the direct correlation between how an executive team functions and how the company performs. TMT services helps teams understand issues that face them and targets the development opportunities that links change to financial performance. And, unlike most assessments available today, the TMT instrument analyzes a team as the unit of analysis, not the individual. “Improving a team takes more than simply assessing and developing every individual on the team—you need to understand the team itself,” states Dr. Michael Ensley, creator of the TMT instrument. “The issue with team assessments to date has been the fact that they assess individuals, not teams, and as a result are not actually analyzing what’s important. Before the TMT, team development was analogous to wandering around in the dark with a flashlight. You might shine your light on something interesting, but that was due more to experience and intuition than any useful analytic procedure. That’s not a responsible way to conduct team development. TMT services provide the clarity and precision that firms need.”
TMT services are used by venture capital and private equity firms, innovation and strategy-driven companies, global organizations that cross boundaries and cultures, and high-technology startups. Teams are compared to normative groups compiled from the TMT database of highly successful firms, depending upon which is most relevant to an organization’s dynamics, providing clear internal and external benchmarks that uncover problems with composition of teams and the critical skills that are missing. “No matter what you are producing—a product or service—teams drive innovation and strategy. The TMT can help design world-class teams for new activities and benchmark current ones,” states Joe Frodsham, Vice President of Talent Management, Tenant Health Care.
About Dr. Michael Ensley
Dr. Michael Ensley is Vice President, Executive Team Assessment and Development for Lore International Institute, and is currently an Associate Professor at the Lally School of Management & Technology at Rensselaer. His research focuses on the development, composition, and dynamics of top management teams in growing and dynamic firms, the impact of technological change on decision-making in top management teams, and the effect of strategic and organizational structure fit in growing companies. His research is also focused on the development of shared strategic cognition and executive team decision-shared cognition during the strategic decision-making process. Michael has presented his research in 14 countries and over 50 times at international and national conferences.
About Lore International Institute
Lore International Institute is a privately held, global executive development firm, serving the global business community. Since 1989 Lore has been providing clients with a range of professional development solutions including, organizational consulting, executive coaching, executive education, and business development services. For additional information about Lore, or the TMT, contact Jennifer Kwiatkowski, Marketing Manager, at 800-866-5548.
This press release was distributed through eMediawire by Human Resources Marketer (HR Marketer: http://www.HRmarketer.com) on behalf of the company listed above.
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